Global test and inspection partner Industrial Physics to accelerate growth with acquisition by KKR
Industrial Physics, the leading packaging, product, and material test and inspection provider, today 11.05.2023 announced its acquisition by investment funds managed by KKR from Union Park Capital (UPC).
With over 100 years of experience in the industry, Industrial Physics is a globally recognized specialist in testing and inspection equipment for manufacturers, production lines, and laboratories. With extensive worldwide operations, the company is integral to the operational safety and innovation of sectors including food, beverage, flexible packaging, medical products and more.
“At Industrial Physics, we are excited to work with KKR as we enter this new phase of our growth. KKR supports our employee-first culture and shares our vision for building a scaled testing and measurement platform that continually invests in growth and innovation to even better serve the needs of customers around the world,” said Jim Neville, CEO of Industrial Physics.
Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant strategy commented: “Testing and measurement is an attractive market that is poised to continue growing as focus on product quality and supply chain transparency intensifies. We are thrilled to invest in Industrial Physics, a leader in this space, that has built an impressive portfolio of brands used by many of the world’s leading manufacturers. We look forward to working with the Industrial Physics team and helping the company reach new heights through organic growth and M&A.”
Following the close of the transaction, Industrial Physics also plans to implement KKR’s broad-based employee ownership program to support employee engagement, which will make all employees owners of the company alongside investment funds managed by KKR.
Providing instruments and services to organizations across a wealth of industries, Industrial Physics offers an unrivalled portfolio of products. From a range of instruments that carry out seam inspection, can inspection, label inspection, code reading, permeation analysis, and headspace testing for the beverage industry, to crush, burst, peel, and tack testing for those manufacturing food packaging, the diversity of solutions is simply unmatched. Together with testing tools used for coatings, materials, and various components – such as viscosity testing, gloss testing, abrasion testing, melt flow testing, and so many others, there truly is no test and inspection partner that can compare.