On 25 October 2018, the shareholders of Thermo Electric Instrumentation B.V. have announced the sale of the company to Pentronic AB. The sale is part of Thermo Electric Instrumentation’s growth strategy that will be further accelerated through partnering with an industry partner with a complementary geographic footprint and product range.
Majority shareholder Foreman Capital, in close consultation with management, decided earlier this year to investigate the potential divestment of Thermo Electric Instrumentation in order to enable the company to accelerate its long-term growth strategy. Becoming part of a group with a complementary product portfolio and geographical footprint will allow Thermo Electric to further expand the company’s activities and realize its growth opportunities. With Pentronic AB, supported by Indutrade AB as a group holding company, Thermo Electric Instrumentation has found such a partner. The sale of Thermo Electric Instrumentation is the logical next step following the company’s carve out from Doedijns Group International at the end of 2013. In the meantime, the company has focused on further professionalization and growth.
Pentronic, founded in 1965, is a company that manufactures temperature sensors and related items, and is seen as absolute market leader in Scandinavia. Since 2001, Pentronic has been part of Indutrade AB, a Swedish listed company with a portfolio of companies focused on high-end products and solutions. Indutrade has a long term vision which is fueled through acquisitive growth of companies active in industrial manufacturing or trading.
Thermo Electric Instrumentation B.V. will continue to operate as a standalone company with a strong product-market focus, focused on realizing its growth potential.
About Thermo Electric Instrumentation:
Thermo Electric Instrumentation is global player in engineering, manufacturing and servicing thermocouples, RTD`s (Pt100) and thermowells. Thermo Electric temperature sensors can be used for measuring and controlling every process with a temperature range from the absolute zero point up to 1500 °C and utilized in processes dealing with corrosive chemicals, vibrations, electrical interventions and high pressure.
About Foreman Capital:
Foreman is an entrepreneurial investor, focused on growth and expansion of West-European companies in the trade-, manufacturing and/or services industry. As actively contributing investor, Foreman supports entrepreneurs, family business and management teams in realizing their growth ambitions.
Pentronic develop, manufacture and sell thermocouples and Pt100 resistance thermometers (RTDs), cables and connectors, and also process connections and market IR-radiation pyrometers, transmitters as well as instrumentation like indicators, controllers, loggers and temperature calibration equipment. Pentronic has an accredited calibration laboratory that has the corresponding quality level of many national laboratories.
Indutrade is an international industrial group that sells and develops high-tech components, systems and services. Indutrade markets solutions that streamline their clients systems and processes. With a decentralized structure, Indutrade operates through more than 200 subsidiaries with some 6,000 employees in 31 countries and four continents. Indutrade has been listed on Nasdaq Stockholm since 2005.