Element Materials Technology
 | |
| Company type | Limited company |
|---|---|
| Industry | Testing Inspection and Certification |
| Predecessor | Exova, Cobham Technical Services Lightning |
| Founded | 2010 |
| Headquarters | London, United Kingdom |
Key people | Allan Leighton (Chair)[1] Jo Wetz (CEO)[2] |
| Revenue |  £913.0 million (2021)[3] |
| £43.4 million (2021)[3] | |
| £(212.9) million (2021)[3] | |
| Owner | Temasek Holdings |
Number of employees | 7,000 (2022)[4] |
| Website | element.com |
Element is a global Testing Inspection and Certification (TIC) company headquartered in London. It specialises in materials testing and provision of certification schemes in building material, aerospace, transportation, health sciences, oil and gas, and fire protection. The company was ranked as number 15 in the Sunday Times Top Track 250 listing in 2020, i.e one of top fifteen private mid-market growth companies in the UK.[5] It has been described by its former investor, Bridgepoint Group as the "undisputed heavyweight in testing, inspection and certification" in the UK.[4]
History
[edit]Element was founded in November 2010 after the 3i-backed management buyout of the Materials and Testing group of Stork B.V.[6]
Bridgepoint Group bought Element from 3i in 2015 and went on to acquire various companies.[7] Its most notable acquisition was Exova Group plc - which had itself acquired several firms - from a collection of shareholders led by Clayton, Dubilier & Rice, for £620m in cash in April 2017.[7] Allan Leighton was appointed chairman at that time.[8]
The company went on to acquire Impact Analytical Inc., a provider of analytical services in North America, in February 2021,[9] Arch Sciences Group, a provider of analytical services based in Manchester, in July 2021,[10] and JMI Laboratories, a provider of antimicrobial resistance monitoring services in North America, in January 2022.[11]
Element was acquired by Temasek Holdings in January 2022, when Bridgepoint agreed to an offer that valued the business at $7bn.[12][13][14] Cinven and CPP Investment Board had also been considering making bids valued at circa $4bn.[15]
Operations
[edit]The company provide specialist testing services for the building material, aerospace, transportation, health sciences, oil and gas, and fire protection industries.[16] Sector competitors include Intertek, Bureau Veritas, NPL and SGS.[17]
References
[edit]- ^ "Element Materials Technology acquired by Temasek". British Institute of Non-Destructive Testing. Retrieved 13 February 2023.
- ^ "Element names current CFO Jo Wetz as new CEO". Automotive Testing Technology International. 9 October 2019. Retrieved 23 July 2023.
- ^ a b c "Annual Report 2021". Element Materials Technology. Retrieved 23 July 2023.
- ^ a b "Element Materials Technology snapped up in landmark deal". Insider Media. 26 January 2022. Retrieved 23 July 2023.
- ^ "PwC Top Track 250 league table announced". PwC. 27 September 2020. Retrieved 23 July 2023.
- ^ "3i sells Element Materials Technology for €900m". Private Equity News. 18 December 2015. Retrieved 23 July 2023.
- ^ a b Espinoza, Javier (19 April 2017). "Element Materials agrees £620m deal for lab tester Exova". Financial Times. Nikkei. Retrieved 13 February 2023.
- ^ "Former Asda chief Leighton takes Element chair". Herald Scotland. 26 October 2017. Retrieved 23 July 2023.
- ^ "Element Materials Technology Acquires Impact Analytical". Contract Pharma. 9 February 2021. Retrieved 23 July 2023.
- ^ "Element acquires Arch Sciences Group". Pharmaceutical Outsourcing. 22 July 2021. Retrieved 23 July 2023.
- ^ "Element acquires JMI Laboratories further expanding life sciences capabilities". European Pharmaceutical Manufacturer. 17 January 2022. Retrieved 23 July 2023.
- ^ Wiggins, Kaye (25 January 2022). "Temasek buys UK testing group Element in $7bn deal". Financial Times. Nikkei. Retrieved 13 February 2023.
- ^ Farr, Emma-Victoria (25 January 2022). "Temasek buys Bridgepoint's Element Materials in $7 bln deal". Reuters. Retrieved 13 February 2023.
- ^ Kirchfeld, Aaron; Baigorri, Manuel (25 January 2022). "Temasek Buys Bridgepoint's Element Materials in $7 Billion Deal". Bloomberg. Retrieved 13 February 2023.
- ^ Kleinman, Mark (23 November 2021). "Cinven and Canadian pension giant CPPIB in talks about £4bn bid for Element Materials". Sky News. Retrieved 13 February 2023.
- ^ "Element Materials Technology Deploys Plastometrex's Metal Testing Innovation". Cambridge Science Park. Retrieved 23 July 2023.
- ^ "Insights on the Fire Testing Global Market to 2027 - Featuring Bureau Veritas, Element Materials Technology and Kiwa Among Others". Business Wire. Retrieved 23 July 2023.