24 September 2014
We wish to announce the acquisition of James Heal by Battery Ventures, the Venture Capital and private equity partnership.
Boston-based Battery Ventures is an investment firm focused on technology and innovation worldwide with $4.7 billion in assets under management. In partnership with Battery, James Heal will continue its long-standing tradition of pursuing growth. Battery’s additional resources will support increased investment in technology and complementary acquisitions.
Battery, who are based in offices in Boston and Silicon Valley in the USA, were attracted to James Heal as a core asset of its physical property test and measurement platform because of our market leadership and strong financial position.
“We are very proud to be associated with the James Heal brand and the team; they are universally recognized as the technology, quality and thought leaders in the textile testing market. Together, I believe we will achieve a new level of international success,” said Battery Ventures General Partner Jesse Feldman.
Following the acquisition, Amanda McLaren, the company’s current Manufacturing Director, will take over the responsibilities of Managing Director from David Repper. The rest of the board of directors, including Elliot Rich, Sales Director; Neil Pryke, Innovation Director; and Michael Minich, Financial Director; will continue to lead the company under the new ownership.
David Repper will continue to be involved as a consultant to James Heal on a part-time basis to assist with product development, customer relations and operations, and also to help to ensure a smooth transition period.
As part of the deal, Battery executive-in-residence Don Templeman will join James Heal as Chairman and Director. Templeman has over 20 years of global, general-management experience and was previously the president and CEO of Princeton Instruments Inc., a division of industrial-technology company Roper Industries Inc.
“The opportunity to put my industrial-technology background to work with such an established, yet cutting-edge company is tremendously appealing, and I look forward to working with existing management to take James Heal’s business to the next level,” Templeman said.
Don Templeman will work closely with Amanda McLaren, Elliot Rich, Michael Minich, Neil Pryke and the rest of the team to further develop James Heal’s current product portfolio of leading testing instruments and test materials and continue to expand the company’s market share.
Battery is continuing to expand its investment activity in the industrial-technology markets and has completed more than 25 industrial-related transactions across the U.S. and Europe since 2003.
About Battery Ventures
Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston and Silicon Valley. Follow the firm on Twitter @BatteryVentures, visit the Battery website at www.battery.com and find a full list of Battery's portfolio companies here.