UNION PARK ANNOUNCES ACQUISITION OF TQC BV
BOSTON, MA – October 24, 2017. Industrial Physics, Inc., a global leader in test and measurement equipment and portfolio company of Union Park Capital, today announced the purchase of TQC B.V., a leading manufacturer of lab equipment to test and inspect surface and adhesion properties of paint and coatings. TQC is headquartered in Rotterdam, the Netherlands.
TQC was founded in 1977 by George Moonen Sr., and has grown significantly based on providing high-quality and innovative products. With the acquisition of TQC, Industrial Physics now offers a world class portfolio of products to serve packaging and the general paints, coatings, and inks industry.
TQC joins Testing Machines Inc., CMC-KUHNKE, Messmer Büchel, Systech Illinois, TM Electronics, Ray-Ran Test Equipment, United Testing Systems and Eagle Vision as an independent Industrial Physics operating companies.
Industrial Physics’ brands address critical test and measurement needs of customers in a broad range of industries with an emphasis on packaging and packaging-related applications including food and beverage, metal cans, flexible packaging, paper and plastics, medical device and consumer electronics markets. Industrial Physics companies are helping customers meet the ever-increasing test and quality standards required by demanding regulators, consumers and manufacturers. Industrial Physics is a portfolio company of Union Park Capital, a private-equity firm that specializes in industrial technology investments.
“We are very excited to add the TQC product line to Industrial Physics. We have viewed paints and coating as an attractive adjacency to our historical focus on packaging” said Jim Neville, CEO of Industrial Physics.“ With our nine portfolio companies, Industrial Physics now becomes the world’s largest manufacturer of packaging and material testing equipment” said Mr. Neville.
Mr. George Moonen will continue to lead TQC. “I am delighted to have George join the Industrial Physics team. He is a well-known and respected industry veteran and is a skilled operator with a track record of innovation in this exciting growth market,” said Mr. Neville.
“We are very excited to be joining the Industrial Physics family”, says George Moonen, President of TQC B.V. “Joining Industrial Physics allows us to leverage their extensive global network with cross selling capabilities and strong customer relationships. We have a very strong product portfolio with a very loyal customer base and we feel confident that we will be able to contribute to Industrial Physics’ growth.”
About TQC B.V
TQC B.V. designs and produces field measuring instruments and lab equipment for testing paint and coatings and general surface treatment delivering solutions for every possible QC-application in surface technology. TQC products are known for their ergonomic features and user friendliness and are being used by renowned manufacturers all over the world. TQC’s production facility is located in Rotterdam, The Netherlands. For more information visit www.tqc.eu.
About Industrial Physics
The companies of Industrial Physics, Inc. manufacture and market testing instruments worldwide for measuring physical and analytical properties of a wide range of materials, products and packaging types including plastics, metals, barrier films, paper, corrugated materials, foil, ink, coatings, cans, medical devices, paints and surfaces. Its market-leading brands include Systech Illinois, Testing Machines, Inc., Messmer Büchel, CMC-KUHNKE, FIBRO System, Ray-Ran Test Equipment, TM Electronics, United Testing Systems, OxySense, Eagle Vision and TQC. For more information, visit www.industrial-physics.com.
About Union Park Capital
Union Park Capital is a private equity firm solely focused on lower middle-market industrial technology companies. Union Park takes a long-term perspective to help stakeholders build value over time, and drives value creation through profitably growing a business, not financial engineering. Union Park Capital is based in Boston, MA and has extensive investments and expertise in the scientific instrumentation sector. For more information, visit www.union-park.com.