Element Materials Technology this week announced that it was acquired by Bridgepoint’s Temasek for an undisclosed amount.
Singapore-based Temasek has been a majority shareholder in Element since 2019. Element expects to accelerate its growth and build stronger positions in end-markets like life sciences and connected technologies, according to the company.
“The acquisition of Element by Temasek is a landmark transaction in the TIC sector, and a critical step in the development of the Group. We have grown from 20 locations and 600 colleagues ten years ago, to over 7,000 talented experts operating across 200 locations, and are ambitious to continue our rapid growth in the sector,” Element CEO Jo Wetz said in a news release. “Bridgepoint has been an exceptional partner, helping to support a ten-fold increase in our turnover over the past decade. We are delighted to expand our relationship with Temasek – their intimate understanding of the Group and their track record of enabling businesses with sustainability at their core will help to accelerate the growth of our business in the years ahead.”
Element operates in more than 200 laboratories across 30 countries, serving industries such as life sciences, connected technologies, aerospace, transportation, energy transition, built environment and more.
“We are pleased to continue our relationship with Element as it works with its customers and explores greater opportunities to be part of their decarbonization and sustainability journeys. As a leading TIC business, Element is at the forefront of enabling innovative solutions across various industries,” said Uwe Krueger, Temasek’s head of industrials, business services, energy and resources and head of EMEA.