Battery Ventures Acquires DetconSeptember 29, 2011
Acquisition creates a comprehensive fixed and portable gas detection portfolio with global coverage.
WALTHAM, MA & MENLO PARK, CA -- (BUSINESS WIRE) -- Battery Ventures, a multi-stage investment firm focused on technology and innovation worldwide, announced the acquisition of Houston-based Detcon, a leader in fixed gas detection products. Detcon will join recently acquired Gas Measurement Instruments (GMI) as an independent operating company within Battery's Industrial Safety Technology platform. Together the companies create a comprehensive portfolio of fixed and portable gas detection products with global reach. Terms of the Detcon transaction were not disclosed.
"This is great news for our customers, employees and distribution network, as we now have a partner to pursue our vision of growth and extend our reach with an expanded product set," said Dan Alpha, Detcon's founder.
Detcon president Bob Masi added: "We will continue our focus on the design and manufacture of innovative and practical solutions for a wide range of industrial markets, and look forward to a successful future." Alpha and Masi will remain involved with the company going forward.
Established in 1983, Detcon is a global leader in the design and manufacture of industrial grade gas detection sensors and electronic control systems, with a particular strength in oil and gas markets. The company produces a wide range of sensor technologies and state of the art product designs, which are engineered to perform reliably in the most challenging and rugged industrial environments.
"After closing the GMI transaction in July, it's exciting to make such quick progress in expanding our gas detection platform with Detcon," said Adam Markin, CEO of Battery's Industrial Safety Technology platform. "Adding such a leading brand to the group gives us enormous reach and a full portfolio in both fixed and portable gas detection products. This is a powerful combination, as we will now be able to serve more customers on a global basis with a wide-ranging set of products."
"The Detcon name stands for innovation and quality in the fixed gas market and we will preserve this heritage as we grow the business," said Jesse Feldman, Battery Ventures Partner. "Industrial safety technology is a large and strategic opportunity with tremendous potential upside. There is incredible synergy to be had by finding and combining complementary companies and product lines, and we will continue to aggressively pursue acquisitions in this vein."
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from start-up and expansion financing, to growth equity and buyouts. Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (NASDAQ: AKAM), BladeLogic (acquired by BMC Software), Insitu (acquired by Boeing), ITA Software (acquired by Google), LIFFE (acquired by Euronext), MetroPCS (NYSE: PCS), and Omniture (acquired by Adobe).
Battery's current portfolio includes leading global brands in Industrial Technology such as Dantec Dynamics, Durham Geo Slope Indicator, GMI and Roctest. Battery manages $4B in committed capital, including its current fund of $750M.
Detcon designs and manufactures a wide range of industrial grade gas detection sensors and electronic control systems. Detcon was established in 1983 and began commercial activity with its first products in early 1985. The company has continued to grow in product base and market share. Application experience includes virtually every conceivable type of industrial facility. Detcon's wide range of sensor technology and electronic product designs establishes a competitive advantage in providing practical and affordable gas detection solutions in even the most difficult and challenging industrial environments.
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