Battery Ventures' IST agrees Oldham buy.
M2 EQUITYBITES-July 30, 2013-Battery Ventures' IST agrees Oldham buy(C)2013 M2 COMMUNICATIONS http://www.m2.com
30 July 2013 - US Battery Ventures said its portfolio firm Industrial Safety Technologies LLC (IST) had agreed to acquire French fixed-point gas detection systems provider Oldham from Industrial Scientific Corp for an undisclosed amount.
The deal is seen to be wrapped up in the fourth quarter of this year.
Oldham, which will be IST's fifth acquisition so far, will operate as an independent business within IST, the buyer said.
As a result of the transaction, IST will add a European position and market share, IST's president Adam Markin noted.
The target's production capabilities in France and China are also complementary to IST's current locations and other firms in the group, Markin added.
Oldham is based in Arras, France. The company also has fixed systems support business in China, Germany, India and the United States.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 30, 2013|
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