Element Materials Technology announces the completion of its acquisition by Temasek
LONDON–(BUSINESS WIRE)–Element Material Technology (Element), a global leader in testing, inspection and certification (TIC) services, has completed its acquisition by Temasek, a global investor headquartered in Singapore. Temasek has been a minority shareholder of Element since 2019. Temasek acquired Element from Bridgepoint, whose successful ownership has played a significant role in Element’s revenue growth of more than tenfold over the past decade. The acquisition, which was subject to regulatory approvals, was previously announced on 25e January 2022.
As a highly differentiated ICT leader with a background of technical expertise, Element is a trusted partner for customers, supporting them from inception of R&D, through complex government approvals and into production, putting the focus on laboratory testing. Its more than 7,000 scientists, engineers and technologists, based in a global network of more than 200 laboratories in 30 countries, serve technically demanding and highly regulated sectors, ensuring that products are safe and durable. Element works with customers across a wide spectrum, from developing the next generation of aircraft, spacecraft and autonomous vehicles to testing vaccine components at its US pharmaceutical labs; and from certifying smartphones and wearables, to providing 5G carrier approvals and developing connected robots.
The Group generates annual revenues of more than one billion dollars and has grown by more than 20% per year over the past ten years. It is well positioned to accelerate this growth as it strengthens its leadership positions in critical end markets, including life sciences and connected technologies. Element also benefits from strong global ESG tailwinds – with over 60% of its work directly supporting clients on their sustainability journeys, it will continue to play a vital role in decarbonising the global economy.
Jo Wetz, CEO of Element, said, “We are delighted to complete this historic transaction with Temasek and to begin work on the next chapter in Element’s story. Their partnership over the past three years has been extremely beneficial to our growth. Today, Element is the partner of choice for companies at the forefront of innovation, from advanced medical science to self-driving cars, and has one of the most talented and skilled teams in the ICT space.
We are excited to build on this legacy of success and drive Element forward by further growing our business through strategic investments and acquisitions, focusing on high-growth end markets such as life sciences. and connected technologies. Element will continue to play a crucial role in supporting our customers in their sustainability journeys and making tomorrow safer than today.
Allan Leighton, Non-Executive Chairman of Element, said, “Element is a true success story – a talented management team leading an exceptional group of experts in offices and labs in more than 30 countries across the world. We are now entering another exciting chapter of purpose-driven growth, together with our customers and our new owners.”
Chris Busby, Partner at Bridgepoint, said: “Element has been bold in its ambition, achieved impressive organic growth and implemented a targeted acquisition strategy. As a result, it has dramatically expanded its expertise to over 50,000 clients worldwide and has become an undisputed ICT heavyweight. We are proud of what Element has accomplished and wish them much success in the future.
Element was advised by Bank of America Securities, Goldman Sachs and Rothschild & Co (M&A), A&O (legal), EY (finance and tax), BCG (commercial), DLA, Jamieson and PwC (management advisors).
About the item
Element Materials Technology Group is one of the world’s leading providers of testing, inspection and certification services for a diverse range of products, materials and technologies in advanced industrial supply chains where the failure of use is not an option. Based in London, UK, Element’s more than 7,000 scientists, engineers and technologists, working in our global network of more than 200 laboratories, support customers from the earliest stages of R&D, through to complex regulatory approvals. and up to production, ensuring that their products are safe and sustainable, and gaining market access. In 2021, Element defined its new industry-leading environmental commitments, adopting science-based targets and committing to net zero emissions across all of its global operations by 2035. These environmental commitments follow Element’s achievement of the highest ESG ranking in the testing, inspection and certification sector from Sustainalytics, a global leader in ESG research and data. For more information about Element, visit our website, connect with us on LinkedIn and Twitter and subscribe to our Youtube channel.
Temasek is a global investment firm with a net portfolio value of S$381 billion (€241 billion, £206 billion) as of March 31, 2021. Headquartered in Singapore, it has 13 offices in nine countries around worldwide. Temasek’s Charter defines Temasek’s three roles as an investor, institution and steward, which shape its philosophy of doing well, doing well and doing well. As a provider of catalytic capital, it seeks to enable solutions to key global challenges. With sustainability at the heart of everything Temasek does, it actively seeks sustainable solutions to address current and future challenges, while seizing investment opportunities to create a sustainable future for all. For more information about Temasek, please visit www.temasek.com.sg
Charles O’Brien/Akash Lodh/Bella Smith