Bridgepoint portfolio company Element Materials Technology (EMT) has agreed to acquire Exova, a UK-listed laboratory testing company backed by Clayton Dubilier & Rice (CD&R), in a deal valuing the business at £620.3m.
GP will become a majority shareholder in the group, with the deal expected to complete later this year
EchoVC+, TPG/Satya, NEA and Partech Ventures also took part in the funding round
Deal should be sealed by June 2017, with BlueGem aquiring shares from the founders and family office SEP
Investment will fund international expansion, with a particular focus on the Latin American market