Element Materials Technology acquired by Temasek
24/03/2022
Element Materials Technology Group, a global leader in testing, inspection and certification (TIC) services, has been acquired by Temasek from the Bridgepoint Group.Temasek, a global investor headquartered in Singapore, has been a minority shareholder in Element since 2019. The Group generates annual revenues of circa $1 billion and has grown at over 20% a year over the last ten years. The transaction value has not been disclosed and the transaction remains subject to customary regulatory approvals.
Operating in technically demanding and highly regulated sectors, Element is well positioned to further accelerate its growth as it builds stronger positions in end-markets, such as life sciences and connected technologies. The Group also benefits from strong global environmental, social and governance (ESG) tailwinds; with over 60% of its work already directly supporting customers on their sustainability journeys, it will continue to strengthen its position across the global TIC industry.
Element can trace its origins back 190 years and now operates a global network of more than 200 laboratories across 30 countries, servicing thousands of customers in life sciences, connected technologies, aerospace, transportation, energy transition, the built environment and beyond.
Element works with customers across a wide spectrum, from testing the next generation of aircraft and autonomous vehicles, to vaccine component testing in its USA pharmaceutical laboratories, and from the certification of smartphones and wearable technologies, to providing cellular carrier approvals and testing connected robots.
Headquartered in London, UK, Element’s team of over 7000 scientists, engineers and technologists support customers from early research and development (R&D), through complex regulatory approvals and into production, ensuring their products are safe and sustainable.
Element recently achieved the best ESG rating of any major TIC company globally, it is claimed, placing it in the top 1.5% of all companies rated for ESG by Sustainalytics. Element’s 10.5 corporate ESG rating reflects its industry-leading ESG systems, management and commitments, which include setting science-based climate targets and achieving net-zero emissions across its entire business by 2035.
Allan Leighton, Non-Executive Chair of Element, said: “Element has a highly talented management team and exceptional people across its offices and laboratories around the world. This transaction is a testament to their skills and commitment and creates the launchpad for the next exciting horizon of growth for the company.”
Jo Wetz, CEO of Element, commented: “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 7000 talented experts operating across 200 locations and we are ambitious to continue our rapid growth in the sector.
“Bridgepoint has been an exceptional partner, helping to support a ten-fold increase in turnover over the past decade. Element is delighted to expand its relationship with Temasek; Temasek’s intimate understanding of the Group and its track record of enabling businesses with sustainability at its core will help to accelerate the growth of Element’s business in the years ahead.”
“I am extremely proud of what Element and its outstanding team have delivered. The business has been bold in its ambition, has delivered impressive organic growth and has been clinical in its acquisition strategy, allowing it to significantly expand its expertise for over 50,000 customers worldwide. It is now an undisputed heavyweight in testing, inspection and certification and we wish the team of 7000 people continued success in the future,” said Chris Busby, Partner at Bridgepoint.
Uwe Krueger, Temasek’s Head of Industrials, Business Services, Energy & Resources, and Head, Europe, Middle East & Africa, said: “We are pleased to continue our relationship with Element as it works with its customers and explores greater opportunities to be part of their decarbonisation and sustainability journeys. As a leading TIC business, Element is at the forefront of enabling innovative solutions across various industries.”
www.element.com
