Battery-backed PST to acquire SST

The company's management team will stay on following the transaction.

Battery is currently investing from its Battery Ventures XII and its Battery Ventures XII Side Fund, which closed on $800m and $450m respectively in February 2018. The generalist funds make deals from seed- and early-stage rounds to majority buyouts in technology and industrial technology companies.

Battery acquired PST in 2017 and has since pursued an aggressive buy-and-build strategy. Acquisitions over the last two years include Analytical Industries, Dynament, LDetek, Michell Instruments, NTron, Rotronic and Status Scientific.

The acquisition of SST broadens PST's portfolio to include zirconium oxide and optical-sensing capabilities.

Company
Founded in 2002, SST employs 50 people at one location in Coatbridge. The company designs and manufactures a range of fluid and gas-sensing products including oxygen measurement and liquid level sensors.

People
Battery Ventures – Zack Smotherman (principal).
Process Sensing Technologies – Adam Markin (CEO).
SST Sensing – Keith Wight (CEO).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• Buy-and-build
• Build-up
• United Kingdom
• Battery Ventures