Industrial Physics, a leading provider of packaging, product and materials testing and inspection, announced today 11.05.2023 its acquisition by investment funds managed by KKR from Union Park Capital (UPC).
With over 100 years of industry experience, Industrial Physics is a globally recognized specialist in test and inspection equipment for manufacturers, production lines and laboratories. With extensive operations around the world, the company is an integral part of operational safety and innovation in sectors such as food, beverages, flexible packaging and medical products, among others.
“We at Industrial Physics are delighted to be working with KKR in this new phase of our growth. KKR supports our culture of putting employees first and shares our vision of building a test and measurement platform at scale that continually invests in growth and innovation to even better serve the needs of customers around the world.”said Jim Neville, CEO of Industrial Physics.
Brandon Brahm, KKR partner and co-head of KKR’s Ascendant strategy, commented: “Test and measurement is an attractive market that is poised for continued growth as the focus on product quality and supply chain transparency intensifies. We are delighted to invest in Industrial Physics, a leader in this space, which 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 closing of the transaction, Industrial Physics also plans to implement KKR’s employee engagement program to support employee engagement, which will convert all employees into owners of the company along with investment funds managed by KKR.
Industrial Physics, which provides instruments and services to organizations in a wide variety of industries, offers an unmatched product portfolio. From a range of instruments for seam and can inspection, label inspection, code reading, permeability analysis and headspace testing for the beverage industry, to crush, burst, peel and adhesion testing for food packaging manufacturers, the diversity of solutions is simply unmatched. Along with the testing tools used for coatings, materials and various components, such as viscosity tests, gloss tests, abrasion tests, melt flow tests and many others, there really is no testing and inspection partner that can compare.
