Battery Ventures, a global technology investment firm, has reached an agreement for its platform in the process-measurement market, Process Sensing Technologies (PST), to acquire Rotronic AG, a global developer and manufacturer of humidity- and temperature-measurement solutions. Rotronic, a family-owned firm based in Switzerland, will join Battery's existing portfolio of process-measurement and analysis companies.
These portfolio companies include Analytical Industries Inc., acquired in March, and Michell Instruments, which Battery acquired in Oct. 2016. Terms of the Rotronic transaction were not disclosed.
In recent years, under the ownership of the Schroff family, Rotronic became a global leader of solutions for measuring and monitoring relative humidity, temperature, CO2, differential pressure, flow, dew point and water activity in manufacturing and other industrial processes. Additionally, the company's innovative Rotronic Monitoring System (RMS) provides a comprehensive and flexible cloud-based monitoring system for high-quality R&D, production and storage environments. The acquisition by PST will inject additional resources into Rotronic and allow it to grow and innovate across these global markets.
"We are excited to welcome Rotronic into the PST family; the company's global market strength and sensor and monitoring products are the perfect complement to Michell Instruments and Analytical Industries," said Adam Markin, Process Sensing Technologies' chief executive.
"Our goal is to build a complete portfolio of process-sensing technologies to better serve our customers, and the addition of Rotronic represents great progress in achieving our objective," said Zack Smotherman, vice president at Battery Ventures. Andreas Gähwiler, will continue as managing director of Rotronic and will work closely with Markin to manage the business.
In addition, as part of the Battery transaction, Rotronic will be divesting its Swiss-based trading division, which includes the UPS Solutions, Rack Systems, Power Supplies, and F&B solutions segments, to Secomp AG.
About Battery Ventures
Battery strives to invest in category-defining businesses in markets including software and services, Web infrastructure and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, San Francisco, Israel, and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
About Rotronic AG Rotronic is an international development and manufacturing company that offers a wide range of products and solutions in the B2B segment. Founded in 1965, the company is headquartered in Switzerland and now has 8 subsidiaries and 42 distributors. Rotronic develops and manufactures solutions for measuring and monitoring relative humidity, temperature, CO2, differential pressure, pressure, flow, dew point, and water activity. Rotronic began the digital transformation 17 years ago and has invested in automated data transfer (machine-to-machine). With the development and launch of its RMS monitoring software, Rotronic further strengthened its position as a key supplier of measurement solutions.