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- Element Materials Technology
Element Materials Technology Acquisition, Valuation, Funding & Investors
Element Materials Technology was acquired by Temasek for $7B in January 2022, a 7.0x multiple on $1B of revenue.
Element Materials Technology acquisition price
$7B
Acquired by Temasek · Jan 2022
Element Materials Technology revenue at acquisition
$1B
Last twelve months · Jan 2022
Element Materials Technology revenue multiple at acquisition
7.0x
EV/Revenue · Jan 2022
Key investors in Element Materials Technology
Temasek
About Element Materials Technology
Element Materials Technology is a testing, inspection and certification company headquartered in London that was formed in 2010 when 3i backed a management buyout of the Stork Materials Technology business. It operates a network of laboratories across North America, Europe and Asia that test materials, components and finished products for customers in aerospace, defense, energy, construction, transportation, medical devices, life sciences and connected technologies. Its services include materials and mechanical testing, non-destructive testing, product qualification, electromagnetic compatibility and wireless testing, battery testing, calibration and pharmaceutical analytical testing. Customers use the results to qualify products, satisfy regulators and demonstrate that parts will not fail in use. The group has grown through a long series of laboratory acquisitions and has been owned by 3i, Bridgepoint and Temasek in turn. It earns its revenue from fees for testing, inspection and certification work.
Founded
2010
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Services
Revenue
$1B (Jan 2022)
Valuation
$7B (acquired Jan 2022)
Sectors
Element Materials Technology Acquisition
Element Materials Technology was acquired by Temasek for $7B on 23 January 2022.
The acquisition price implies a 7.0x revenue multiple on $1B of revenue.
Temasek, the Singapore state-owned investment company, agreed to acquire Element Materials Technology from Bridgepoint in January 2022 in a transaction that Reuters reported valued the testing group at about $7 billion. The parties announced the deal on 25 January 2022, and Element reported on 5 July 2022 that Temasek had completed the acquisition. Temasek had been a minority shareholder in Element since 2019, so the transaction moved the company from Bridgepoint to full Temasek ownership. Bridgepoint had bought Element from 3i in December 2015 and described the exit as the sale of a business whose turnover had risen more than ten-fold over the decade. Element chief executive Jo Wetz called the sale a landmark transaction in the testing, inspection and certification sector and a critical step in the group's development. Element is a London-based provider of laboratory testing, inspection and certification services for aerospace, energy, life sciences, transportation and connected technology customers. It generates annual revenues of about $1 billion and had grown at over 20 percent a year over the previous ten years.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 23 Jan 2022 | PE buyout | $7B | 7.0x |
Sources: element.com, reuters.com, bridgepointgroup.com
Element Materials Technology Funding History
Element Materials Technology has raised 1 funding round.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Jan 2019 | Undisclosed stage | Temasek | Temasek, the Singapore state-owned global investment company, took a minority shareholding in Element Materials Technology in 2019 while the private equity firm Bridgepoint remained the controlling owner. Element and Bridgepoint later stated that Temasek had been a minority shareholder since 2019, and in July 2020 Element listed Temasek alongside Bridgepoint among the investors providing new investment around its acquisition of Analytical Lab Group. The size of the stake and the price were not disclosed. Temasek raised its position to full ownership in 2022 when it agreed to acquire Element from Bridgepoint at a valuation of about $7 billion. Element is a London-based provider of laboratory testing, inspection and certification services, headquartered in the United Kingdom, with laboratories in North America, Europe and Asia that serve aerospace, energy, life sciences, transportation and connected technology customers. The group was founded in 2010 and had been owned by 3i before Bridgepoint bought it in December 2015. |
Who has invested in Element Materials Technology?
1 investor has backed Element Materials Technology across its funding rounds, including Temasek.
Element Materials Technology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Element Materials Technology
Element Materials Technology has acquired 46 companies to date.
Last acquisition by Element Materials Technology was on October 1st 2024. Element Materials Technology acquired ISS Inspection Services for undisclosed valuation.
Latest Acquisitions by Element Materials Technology
| Description | - | Filton Systems Engineering is an aerospace engineering and testing services firm headquartered in Bristol, United Kingdom. It specialises in designing fuel, air, hydraulic, inerting and engine systems and delivers solutions from concept to manufacture. Its single-source offer covers system mechanical design, simulation, analysis, prototyping, technical writing and testing. The company has extensive expertise in gaseous and liquid hydrogen and operates a dedicated facility in Kemble, United Kingdom, with an in-house designed and constructed hydrogen liquefaction plant. Its expertise in systems engineering, safety and reliability, design, simulation and modelling serves aircraft and propulsion programmes. The company earns its revenue from engineering and testing fees paid by aerospace customers. | CTK Co Ltd offer various standards certification services of the countries to be exported in relation to Electromagnetic Compatibility, Electrical Safety, and Telecom, throughout industries including Information technology equipment, Home appliances, and Industrial equipment. | NCT is a battery and electrical safety testing company headquartered in Dongtan, Hwaseong, South Korea. It provides testing and certification services covering battery and electrical safety, reliability testing and analysis, and wireless testing for the mobility, consumer goods, medical device and telecommunication markets. The team has expertise in safety, performance, regulatory and abuse testing of small, medium and large format cells, modules and packs, including destructive battery testing. Its accreditations and certifications include KOLAS, KATS, RRA and IEC, which cover Korea and international markets. Battery makers and device manufacturers use such testing to show that cells survive misuse and meet regulatory requirements. The company earns its revenue from fees for testing and certification. | |
| HQ Country | |||||
| HQ City | - | Bristol | - | Hwaseong | |
| Deal Date | 1 Oct 2024 | 2 Nov 2023 | 1 Aug 2023 | 12 Jun 2023 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Element Materials Technology acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Element Materials Technology Competitors
Element Materials Technology competitors include listed companies like ISS World, Brookfield Business Corp, Elis and HD Hyundai Marine, and private ones like MB2 Dental Solutions and Foundever.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $13B | $815M | $6.8B | 0.7x | ||
| Publicly listed | $27B | $6.6B | $6.1B | 7.7x | ||
| Publicly listed | $5.4B | $1.9B | $6B | 1.9x | ||
| Publicly listed | $1.5B | $261M | $5.3B | 2.8x | ||
| Private | - | $300M | $3.5B | - | ||
| Private | - | - | $3.2B | - |
Element Materials Technology Public Comps
Element Materials Technology is no longer listed, but its public comps include ISS World, Brookfield Business Corp, Elis, HD Hyundai Marine, Alliance Laundry Systems, UniFirst, Sodexo, Wuchan Zhongda Group Co, MITIE Group and Madison Air.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $13B | $815M | 0.7x | 0.7x | 11.3x | 9.7x | |||
| $27B | $6.6B | 1.6x | 7.7x | 6.5x | 18.2x | |||
| $5.4B | $1.9B | 2.0x | 1.9x | 5.9x | 5.4x | |||
| $1.5B | $261M | 3.4x | 2.8x | 18.9x | 16.7x | |||
| $1.7B | $382M | 3.6x | 3.5x | 16.3x | 13.3x | |||
| $2.5B | $277M | 1.6x | 1.6x | 15.0x | 12.4x | |||
| $27B | $1.1B | 0.5x | 0.5x | 12.2x | 9.2x | |||
| $90B | $1.5B | 0.1x | 0.1x | 8.2x | 7.1x | |||
This data is available for Pro users. Sign up to see all Element Materials Technology competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Element Materials Technology
| When was Element Materials Technology founded? | Element Materials Technology was founded in 2010. |
| Where is Element Materials Technology headquartered? | Element Materials Technology is headquartered in London, United Kingdom. |
| Is Element Materials Technology publicly listed? | No, Element Materials Technology was acquired by Temasek in January 2022. |
| Who acquired Element Materials Technology? | Element Materials Technology was acquired by Temasek in January 2022. |
| How much was Element Materials Technology acquired for? | Element Materials Technology was acquired for $7B in January 2022, a 7.0x revenue multiple. |
| What was Element Materials Technology's last funding round? | Element Materials Technology's last funding round was a undisclosed-stage round in January 2019. |
| Who are Element Materials Technology's investors? | Element Materials Technology's investors include Temasek. |
| Which companies are comparable to Element Materials Technology? | Companies comparable to Element Materials Technology include ISS World, Brookfield Business Corp, Elis, HD Hyundai Marine, MB2 Dental Solutions and Foundever. |
| How many companies has Element Materials Technology acquired? | Element Materials Technology has acquired 46 companies, including ISS Inspection Services, Filton Systems Engineering, CTK, NCT and National Technical Systems. |
| What was the largest acquisition by Element Materials Technology? | The $837M acquisition of Exova Group in April 2017 is the largest acquisition Element Materials Technology has made to date. |
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