PPT Group Joins SK Capital's Portfolio in Strategic Acquisition
Deal News | Mar 06, 2025 | Battery Ventures
SK Capital Partners, a private investment firm excelling in specialty materials, ingredients, and life sciences, has acquired Physical Properties Testers Group (PPT Group) from Battery Ventures. PPT Group is headquartered in Halifax, UK, and specializes in design, production, and service of testing instruments across several core brands. The company operates globally, serving a diverse customer base in industries such as aerospace, electronics, and textiles. The strategic acquisition by SK Capital is aimed at expanding its industrial technology presence, aligning well with its specialty materials focus. Under new leadership, Jim Neville will serve as Global CEO, continuing the legacy of PPT's success, and Neil Pryke will head operations in the UK, Europe, and China. The acquisition is backed by debt financing from Bain Capital's Private Credit Group, with legal and financial advisory support from Goodwin Procter LLP and EC M&A respectively.
Sectors
- Private Equity
- Industrial Technology
- Specialty Materials
Geography
- United Kingdom – PPT Group is headquartered in Halifax, UK, and operates within this region.
- United States – SK Capital Partners is headquartered in the United States.
- Global – Both PPT Group and SK Capital have global operations, impacting a wide array of international markets.
Industry
- Private Equity – SK Capital Partners, a private equity firm, was involved in the acquisition transaction.
- Industrial Technology – PPT Group specializes in physical property test and measurement solutions, relating to industrial technology.
- Specialty Materials – SK Capital focuses on specialty materials, aligning with PPT Group's offerings in materials testing.
Financials
- $9 billion – Assets under management by SK Capital Partners.
- $12 billion – Annual revenue generated by SK Capital's portfolio of businesses.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SK Capital Partners | Acquirer | Company | A private investment firm focused on specialty materials, ingredients, and life sciences. |
| Physical Properties Testers Group (PPT Group) | Target | Company | A leader in physical property testing and measurement solutions. |
| Battery Ventures | Vendor | Company | The previous owner of PPT Group, selling to SK Capital. |
| Jim Neville | Global CEO | Person | Former CEO of Industrial Physics, now appointed as Global CEO of PPT Group post-acquisition. |
| Neil Pryke | Managing Director | Person | Will continue to lead PPT Group's UK, European, and Chinese operations. |
| Goodwin Procter LLP | Legal Advisor | Company | Provided legal counsel to SK Capital during the acquisition. |
| EC M&A | Financial Advisor | Company | Served as financial advisor to SK Capital. |
| Bain Capital Private Credit Group | Debt Financing Provider | Company | Provided debt financing for SK Capital's acquisition of PPT Group. |