Industrial Physics, a global test and measurement group backed by KKR-affiliated funds, has acquired Vitrek, a manufacturer of electrical safety testing equipment, power analyzers and precision instruments, for an undisclosed sum.
The transaction, which closed upon signing, was facilitated by Branford Castle Fund, LP, which sold Vitrek alongside its MTI and GaGe brands. Industrial Physics operates 12 specialist brands across 19 industries in 75 countries, while Vitrek serves sectors including aerospace, defense, semiconductors and medical devices with its electrical safety and measurement solutions.
KKR will support Industrial Physics in extending its employee ownership program to all Vitrek employees. Since 2011, KKR portfolio companies have awarded equity value to over 200,000 non-senior management employees across more than 90 portfolio companies.
Andrew McCauley, CEO of Industrial Physics, said Vitrek’s differentiated technologies and technical expertise strengthen the group’s position in test and measurement markets. Don Millstein, CEO of Vitrek, said the acquisition provides resources and reach to accelerate growth in served markets.
Legal and financial advisors included Kirkland & Ellis LLP for Industrial Physics, Stifel for Branford Castle and Vitrek, and Akerman for Branford Castle and Vitrek.
