By Rhea Healy2016-11-04T09:18:00+00:00
Michell Instruments Group, a designer and manufacturer of precise measurement sensors, has been acquired by technology investment firm Battery Ventures as it continues along its growth trajectory.
Michell, headquartered in Ely, UK, is a global manufacturer of industrial instrumentation for oxygen (O2), humidity and moisture analysis in gases and liquids with manufacturing facilities located in the UK, France and the Netherlands. It holds over 40 years’ experience in transmitter, instrument and system solutions used across the pharmaceutical, oil and gas, and power generation industries.
It is understood that Battery’s additional resources will support increased investment in Michell’s proprietary technology. Michell will also pursue additional complementary acquisitions via this takeover as it continues to focus on its growth strategy.
Mike Bannister, Chief Executive of Michell, explained that the acquisition will enable the UK-based business to further its growth vision and extend its industry reach via investment in research and development (R&D) and acquisitions.
Jesse Feldman, Battery Ventures general partner, added that Battery will “continue to build the company’s market share and revenue as a leading global player in the large and growing process measurement and analysis market.”
Terms of the transaction were not disclosed.
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