Battery Ventures, a global technology investment firm, has reached an agreement for its platform in the process-measurement market, Process Sensing Technologies (PST), to acquire SST Sensing Limited (“SST”), a global provider of oxygen-measurement and liquid-level sensors.
SST, which is based in Coatbridge, Scotland, will join Battery’s existing portfolio of process-measurement and instrumentation companies inside PST. These include Michell Instruments, acquired in 2016; Analytical Industries and Rotronic, both acquired in 2017; and LDetek, Dynament and NTRON, each acquired in 2018. Terms of the SST transaction were not disclosed.
Founded in 2002, SST has a significant global customer base and is a provider of sensors for oxygen measurement and liquid-level detection. Customers include large original-equipment manufacturers (OEMs) as well as organizations across the additive manufacturing, marine/shipping and high-purity gas industries. SST’s products help improve product quality; protect the health and safety of operating personnel and their production environments; and preserve capital equipment and investments by optimizing operating efficiencies.
SST’s core management team will remain in place and work closely with PST Group CEO Adam Markin to manage the business. “SST’s strong technological reputation for oxygen measurement is highly complementary to the other businesses in PST’s portfolio, and the company will broaden PST’s existing oxygen-measurement portfolio to include zirconium oxide and optical-sensing capabilities,” said Markin. “We are excited to welcome SST to the global PST family.”
“We’re extremely excited to be joining forces with the PST group of companies to broaden our geographic and market reach in order to accelerate our growth. We see PST as the perfect partner to further SST’s global growth and continued technology leadership,” added SST’s CEO, Keith Wight. “We see many synergies in this partnership and are excited to work with PST and Battery.”
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.
About SST Sensing
SST Sensing Limited is a global provider of oxygen-measurement and liquid-level sensors. Based in Coatbridge, Scotland, the company has been designing fluid and gas-sensing solutions for more than 15 years and strives to deliver products that exactly meet customers’ technical and commercial sensor requirements. These products include standard sensors as well as bespoke solutions, all designed by highly experienced and qualified engineers.