TEXTILES.ORG
Funds advised by SK Capital Partners LP, a private investment firm focused on the specialty materials, ingredients and life sciences sectors, completed the acquisition of Physical Properties Testers (PTT) Group from Battery Ventures.
PPT Group, headquartered in Halifax, U.K., is a physical property test and measurement solutions provider. PPT specializes in the design, production and service of testing instruments that ensure the physical integrity and quality of raw materials, components and finished products.
Through its four core brands, including James Heal, Mecmesin, Alluris and Lansmont, the company has a portfolio of testing solutions focused on torque, tensile strength, abrasion and piling, compression and adhesion properties.
The company’s customer base spans multipole sectors, including aerospace and defense, medical and pharmaceuticals, electronics, transportation, textiles and engineered materials end markets. PPT Group employs more than 280 individuals and operates manufacturing and sales offices in the U.K., Europe, North America and Asia.
“We are honored to welcome PPT into the SK Capital family and deepen our industrial technology presence,” says Mario Toukan, managing director of SK Capital. “Battery and the PPT management team have thoughtfully acquired and integrated several first-class businesses, creating a differentiated product portfolio and an industry-leading reputation. PPT’s focus on material properties testing aligns well with SK Capital’s specialty materials focus, making it a natural fit in our portfolio. We look forward to unlocking new growth opportunities and leveraging SK Capital’s deep expertise in the sectors the company currently serves.”
As part of the acquisition, Jim Neville, former CEO of Industrial Physics, will join as global CEO. Neil Pryke will continue to lead the U.K., European and Chinese operations as managing director of PPT Group.
“I am excited to join PPT and partner with Neil and the entire team at this pivotal juncture,” says Neville. “We see enormous potential to enhance our product offerings through organic initiatives and M&A focused on complementary, differentiated material-testing products and services. Together, we are well-positioned to build on PPT Group’s unique legacy and accelerate our growth trajectory.”
Goodwin Procter LLP acted as legal counsel to SK Capital. EC M&A served as the financial advisor to SK Capital. Debt financing was provided by Bain Capital’s Private Credit Group.