Battery Ventures, an investment firm company that aims at innovation and technology globally, has acquired Detcon, based in Houston. Detcon manufactures gas detection devices.
Along with Gas Measurements instruments that was recently taken over by Battery Ventures, Detcon will come within Battery Ventures’ Industrial Safety Technology platform and operate autonomously. The company specializes in manufacturing portable and fixed gas detection devices that are used internationally. The terms of the acquisition remain confidential.
According to Detcon’s Founder Dan Alpha, this was wonderful news for the company’s employers, customers and distributors as they are glad to be partnering with a renowned company to achieve their vision of continuous advancement and expand their range of products.
The President of Detcon, Bob Masi stated that the company will continue to focus on the development of novel and practical products for a broad variety of industrial markets and are positive about a bright future. Both Alpha and Masi will continue with the company even after the acquisition.
Detcon develops and manufactures industrial standard gas detectors and electronic control devices with a specific strength in gas and oil markets. The company fabricates a broad variety of sensors technologies and sophisticated designs that are made to withstand rugged and difficult work conditions.
Battery’s Industrial Technology Platform CEO Adam Markin stated that after the completion of the GMI acquisition in July, the company is glad to expand its gas detection portfolio with the addition of Detcon. He felt that this is a great venture and will enable them to serve a larger number of customers worldwide.
Source: http://www.battery.com