KKR to Acquire Leading Testing and Measurement Instrument Provider Industrial Physics from Union Park CapitalMay 11, 2023
All Employees to Become Owners in the Company
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230511005207/en/
“Testing and measurement is an attractive market that is poised to continue growing as focus on product quality and supply chain transparency intensifies. We are thrilled to invest in Industrial Physics, a leader in this space, that has built an impressive portfolio of brands used by many of the world’s leading manufacturers,” said
“At Industrial Physics, we are excited to work with KKR as we enter this new phase of our growth. KKR supports our employee-first culture and shares our vision for building a scaled testing and measurement platform that continually invests in growth and innovation to even better serve the needs of customers around the world,” said
Following the close of the transaction, Industrial Physics plans to implement KKR’s broad-based employee ownership program, which will make all employees owners of the Company alongside certain investment funds managed by KKR. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR has awarded billions of dollars of total equity value to over 50,000 non-management employees across nearly 30 companies. Last year, KKR joined more than 20 organizations in becoming a founding partner of Ownership Works, a nonprofit created to support public and private companies transitioning to shared ownership models.
Industrial Physics marks the third investment for KKR’s Ascendant Strategy, which invests in middle market businesses in
The transaction is expected to close in Q3 2023, subject to customary conditions.
Dechert served as legal counsel to KKR.
About Industrial Physics
Industrial Physics is the world’s leading test and inspection partner protecting the integrity of the biggest brands across the globe. The Company manufactures and markets materials testing instruments for measuring physical and analytical properties of plastics, barrier films, paper, pulp, foil, ink, coatings, corrugated materials, cans, medical devices, and consumer electronic products. For more information, visit www.industrialphysics.com.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of
For Industrial Physics:
+31 (0) 61 122 6673
Back to Press Releases
Telephone: +1 (212) 750-8300
Telephone: +44 20 7839 9800
Telephone: +852 3602 7335
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003