3i's Element bolts on Environ Labs

Ellie Pullen
08 January 2015

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3i-backed Element Materials Technology has acquired Minnesota-based Environ Laboratories, a provider of product qualification testing services.

The acquisition is part of Element's ongoing strategy to strengthen its position both in the US and globally.

The deal follows several other bolt-ons made by Element in the past 12 months. These include Accutek Testing Laboratories, an Ohio-based materials testing company for the aerospace and medical device sectors, and Gesellschaft für Entwicklung und Versuch Adlershof, a German aerospace product qualification testing company.

According to 3i's website, Element's revenues have increased from $100m in 2010 to more than $250m.

Previous investment
3i acquired Element – then known as Stork Materials Technology – in a €150m buyout from Candover-owned Stork in November 2010. KPMG ran the sales process, according to unquote" data.

Company
Founded in 1961 and headquartered in Minneapolis, Environ Labs is a provider of product qualification testing services.

The company offers testing services for electromagnetic interference, electromagnetic compatibility, environment, climate, dynamics, hydraulics and fuel systems.

People
Charles Noall is the president and CEO of Element.