Battery Ventures Portfolio Company Industrial Safety Technologies (IST) to acquire Oldham from Industrial Scientific Corporation
Fifth brand in the platform extends IST’s global leadership position in gas detection
Battery Ventures portfolio company Industrial Safety Technologies (IST) has reached an agreement with Industrial Scientific Corporation for the proposed purchase of its Oldham fixed-point gas detection business. Oldham provides a comprehensive portfolio of fixed system gas detection monitors and controllers and will be the fifth acquisition for IST since its inception in 2011. The sale encompasses Oldham headquarters’ operations in Arras, France along with fixed systems support operations in China, Germany, India and the United States. No financial details were disclosed.
Adam Markin, President of Industrial Safety Technologies, said that “Oldham offers IST a great European presence and market share including production capabilities in France and China that complement IST’s existing locations and other group companies. We are excited about Oldham and are looking forward to working with management to grow the business and meet their long term objectives.”