Mar 5 2013
Industrial Safety Technologies announces the addition of
The companies are being acquired from UTC Climate, Controls &Security, a unit of United Technologies Corp. Simtronics is a world-class provider of sophisticated gas and flame detection systems for use in applications ranging from plant boiler rooms to offshore petrochemical facilities. The business also designs and installs sophisticated fire and gas systems for a number of markets including nuclear power plants. Terms of the transaction are not being disclosed.
The Simtronics brand will remain intact and it will operate as anindependent company within the IST platform. IST’s mission is to createa full line of integrated technology based detection products andservices targeting heavy industrial applications. Simtronics joinsother leading brands in the IST family, which together create acomprehensive portfolio of detection products with global reach:
- Gas Measurement Instruments (GMI) (headquartered in Scotland,acquired August 2011): gas detection with a particular strength inportable products for gas distribution, oil and gas, and shippingmarkets.
- Detcon (headquartered in Texas, acquired September 2011): gasdetection sensors and control systems, with strength in fixed andwireless gas detection products for the oil and gas market.
- DSA Detection (headquartered in Massachusetts, acquired October2012): consumables for leading brands of explosives and narcotics tracedetectors (ETD).
“Simtronics is an exciting company to add to the platform, andpositions it well for continued growth and innovation,” said AdamMarkin, CEO of Battery’s Industrial Safety Technology platform. “It’s aleading brand that extends our reach into new markets and geographiesand also significantly expands our product base and design capability.We continue to find complementary companies to bring under the ISTumbrella, and are focused on serving more customers on a global basiswith a wide range of market-leading products.”
“We’ve made tremendous progress with IST since launching theplatform in August 2011, and adding Simtronics is another big stepalong the path to creating a very valuable company,” said JesseFeldman, Partner at Battery Ventures – owners of IST. “The industrialsafety market presents a large and strategic opportunity, and webelieve we have the management talent, a great customer base and asuperior collection of products assembled in the IST platform. Wecontinue to look for the best brands in the market and are aggressivelypursuing complementary acquisitions to extend our reach to newcustomers and new geographies worldwide.”