Battery Ventures, a global, technology-focused investment firm, announced the creation of a new laboratory-automation platform following recent acquisitions of three complementary companies: Skalar Analytical, PromoChrom Technologies and LCTech.
Skalar Analytical, based in Breda, the Netherlands, manufactures a range of chemistry analyzers and laboratory-automation solutions for environmental and agricultural applications. Skalar serves as the foundation for the new platform, while PromoChrom—which is based in Richmond, British Columbia and has a significant North American presence—adds a business focused on automated solid-phase extraction (SPE) sample-preparation solutions. PromoChrom is focused on the rapidly growing PFAS (per- and polyfluoroalkyl substances) testing market. LCTech, based in Obertaufkirchen, Germany, offers a broad range of SPE consumables and advanced automation and robotics capabilities, while also providing a strong entry point into food and feed testing with its dioxin-analysis product line.
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All three companies sell products to major, multi-national commercial testing laboratories and industrial customers across environmental, agricultural, and food-and-beverage end markets, enabling these customers to automate previously manual workflows.
The selling shareholder group from Skalar Analytical, led by Rene van der Wagt and Sjaak Furrer, were pleased to partner with Battery to help take Skalar to the next level. “Having developed a relationship with Battery over the past decade, we are excited to see Skalar Analytical flourish under Battery’s ownership,” said Rene van der Wagt. Sjaak Furrer added: “We had the benefit of watching the Battery team execute their M&A strategy with numerous European companies over the years and are thrilled to see Skalar Analytical as the starting point of a new Battery platform.”
Battery’s goal with the transactions is to create a large, innovative global laboratory automation player; the firm expects to continue pursuing a highly acquisitive growth strategy. As part of this initiative, Battery appointed Amod Kher as Group CEO to drive organic growth and continued M&A, as well as to oversee integration efforts. Kher joins the Skalar Group from Gardner Denver Medical, a segment of Ingersoll Rand, Inc. (NYSE: IR), where he was vice president and general manager. Kher has previous leadership experience across a number of business units within Danaher.
SOURCE : BusinessWire