INDUSTRIAL Physics, a packaging, product, and material test and inspection provider, has announced its acquisition by investment funds managed by KKR from Union Park Capital (UPC).
With over 100 years of experience in the industry, Industrial Physics is a specialist in testing and inspection equipment for manufacturers, production lines, and laboratories. The company is involved in sectors including food, beverage, flexible packaging, medical products and more.
“At Industrial Physics, we are excited to work with KKR as we enter this new phase of our growth,” said Jim Neville, CEO of Industrial Physics. “KKR supports our employee-first culture and shares our vision for building a scaled testing and measurement platform that continually invests in growth and innovation to even better serve the needs of customers around the world.”
Brandon Brahm, partner at KKR and co-head of KKR’s ascendant strategy, added, “Testing and measurement is an attractive market that is poised to continue growing as focus on product quality and supply chain transparency intensifies. We are thrilled to invest in Industrial Physics, a leader in this space, that has built an impressive portfolio of brands used by many of the world’s leading manufacturers. We look forward to working with the Industrial Physics team and helping the company reach new heights through organic growth and M&A.”
Following the close of the transaction, Industrial Physics said it plans to implement KKR’s broad-based employee ownership programme to support employee engagement, which will make all employees owners of the company alongside investment funds managed by KKR.
Providing instruments and services to organisations across a wealth of industries, Industrial Physics boasts a large portfolio of products from a range of instruments that carry out seam inspection, can inspection, label inspection, code reading, permeation analysis, and headspace testing for the beverage industry, through to crush, burst, peel, and tack testing for those manufacturing food packaging. The business also provides testing tools used for coatings, materials, and various components.
