Industrial Safety Technologies announced the addition of Simtronics AS (based in Oslo, Norway) and Simtronics SAS (based in Aubagne, France) to its platform. 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 will operate as an independent company within the IST platform. IST's mission is to create a full line of integrated technology based detection products and services targeting heavy industrial applications. Simtronics joins other leading brands in the IST family, which together create a comprehensive portfolio of detection products with global reach:
Gas Measurement Instruments (GMI) (headquartered in Scotland, acquired August 2011): gas detection with a particular strength in portable products for gas distribution, oil and gas, and shipping markets.
Detcon (headquartered in Texas, acquired September 2011): gas detection sensors and control systems, with strength in fixed and wireless gas detection products for the oil and gas market.
DSA Detection (headquartered in Massachusetts, acquired October 2012): consumables for leading brands of explosives and narcotics trace detectors (ETD).
"Simtronics is an exciting company to add to the platform, and positions it well for continued growth and innovation," said Adam Markin, CEO of Battery Ventures' Industrial Safety Technologies platform. "It's a leading brand that extends our reach into new markets and geographies and also significantly expands our product base and design capability. We continue to find complementary companies to bring under the IST umbrella, and are focused on serving more customers on a global basis with a wide range of market-leading products."
"We've made tremendous progress with IST since launching the platform in August 2011, and adding Simtronics is another big step along the path to creating a very valuable company," said Jesse Feldman, Partner at Battery Ventures -- owners of IST. "The industrial safety market presents a large and strategic opportunity, and we believe we have the management talent, a great customer base and a superior collection of products assembled in the IST platform. We continue to look for the best brands in the market and are aggressively pursuing complementary acquisitions to extend our reach to new customers and new geographies worldwide."