UNION PARK ANNOUNCES ACQUISITION OF TM ELECTRONICS
BOSTON, MA – October 31, 2016. Union Park Capital, a Boston-based private equity firm focused exclusively on lower middle-market Industrial Technology investments, today announced the acquisition of TM Electronics by one of Union Park’s portfolio companies. As specialists in leak, flow and package testers, TM Electronics has a long history of providing leak detection equipment to improve quality and productivity in the medical device, consumer electronics, and food markets. The company is headquartered in Boylston, MA.
TM Electronics will join Testing Machines Inc., CMC-KUHNKE, Messemer Büchel and Ray-Ran Test Equipment as an independent operating entity under Industrial Physics, one of Union Park’s platform companies. Industrial Physics’ premium brands address critical test and measurement needs of customers in the packaging, paper, films, foils and paper markets to meet the testing standards and quality demands required in today’s market.
“TM Electronics expands our product offering to product and package leak detection, bringing another critical capability to the Industrial Physics portfolio,” said Jim Neville, CEO of Industrial Physics. “It’s breadth of products coupled with its history of technological innovation makes TME a company with tremendous growth potential. The history and reputation of the TM Electronics brand as a technical and market leader is second to none. With the addition of TME, Industrial Physics bolsters its position as a leading provider of material and physical property testing instrumentation for the packaging, paper, films, plastics and product-testing markets,” said Mr. Neville.
“We couldn’t be more excited to be joining the Industrial Physics family,” says Steve Franks, former owner at TME. “Becoming part of a larger platform gives us the resources and capabilities to continue to serve our customers and to expand into new markets. We’ve been close with Union Park and Industrial Physics for quite some time and to finally have reached this outcome makes us incredibly eager about the future. Not only do we fit well within the overall Industrial Physics platform, but we feel confident that we will be able to contribute to its growth in a meaningful way.” Steve Franks will continue on with the company after the acquisition. “We are thrilled to have such a talented industry veteran as Steve stay with the business,” said Mr. Neville.
About TM Electronics
TM Electronics manufactures automated, high technology leak testers, leak and flow testers and package testers. High resolution, repeatable, and downloadable, TM’s test systems span the range of leak and package testing needs for medical device, plastic, food, pharmaceutical and automotive industries. The company is committed to meeting the quality requirements of customers and is poised to continue to aid manufacturers in meeting the test method standards and regulations developing across the world. For more information, visit www.tmelectronics.com.
About Industrial Physics
The companies of Industrial Physics, LLC manufacture and market materials testing instruments worldwide for measuring physical and analytical properties of plastics, barrier films, paper, pulp, foil, ink, coatings, corrugated materials, cans and medical devices. Its market-leading brands include Testing Machines, Inc. (Delaware, USA), Messmer Büchel/Büchel BV (Veenendaal, Netherlands), CMC-KUHNKE (Berlin, Germany), FIBRO System AB (Stockholm, Sweden), and Ray-Ran Test Equipment (Warwickshire, United Kingdom). 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.
TM Electronics will join Testing Machines Inc., CMC-KUHNKE, Messemer Büchel and Ray-Ran Test Equipment as an independent operating entity under Industrial Physics, one of Union Park’s platform companies. Industrial Physics’ premium brands address critical test and measurement needs of customers in the packaging, paper, films, foils and paper markets to meet the testing standards and quality demands required in today’s market.
“TM Electronics expands our product offering to product and package leak detection, bringing another critical capability to the Industrial Physics portfolio,” said Jim Neville, CEO of Industrial Physics. “It’s breadth of products coupled with its history of technological innovation makes TME a company with tremendous growth potential. The history and reputation of the TM Electronics brand as a technical and market leader is second to none. With the addition of TME, Industrial Physics bolsters its position as a leading provider of material and physical property testing instrumentation for the packaging, paper, films, plastics and product-testing markets,” said Mr. Neville.
“We couldn’t be more excited to be joining the Industrial Physics family,” says Steve Franks, former owner at TME. “Becoming part of a larger platform gives us the resources and capabilities to continue to serve our customers and to expand into new markets. We’ve been close with Union Park and Industrial Physics for quite some time and to finally have reached this outcome makes us incredibly eager about the future. Not only do we fit well within the overall Industrial Physics platform, but we feel confident that we will be able to contribute to its growth in a meaningful way.” Steve Franks will continue on with the company after the acquisition. “We are thrilled to have such a talented industry veteran as Steve stay with the business,” said Mr. Neville.
About TM Electronics
TM Electronics manufactures automated, high technology leak testers, leak and flow testers and package testers. High resolution, repeatable, and downloadable, TM’s test systems span the range of leak and package testing needs for medical device, plastic, food, pharmaceutical and automotive industries. The company is committed to meeting the quality requirements of customers and is poised to continue to aid manufacturers in meeting the test method standards and regulations developing across the world. For more information, visit www.tmelectronics.com.
About Industrial Physics
The companies of Industrial Physics, LLC manufacture and market materials testing instruments worldwide for measuring physical and analytical properties of plastics, barrier films, paper, pulp, foil, ink, coatings, corrugated materials, cans and medical devices. Its market-leading brands include Testing Machines, Inc. (Delaware, USA), Messmer Büchel/Büchel BV (Veenendaal, Netherlands), CMC-KUHNKE (Berlin, Germany), FIBRO System AB (Stockholm, Sweden), and Ray-Ran Test Equipment (Warwickshire, United Kingdom). 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.