Astorg today announces that it has entered into an exclusive agreement with Stockholm-headquartered Sandvik, a high-tech and global engineering group, for the sale of Metrologic and its affiliated companies (“Metrologic”). The transaction is expected to close mid-2018 following consultation with work councils and is subject to customary regulatory approvals.
Founded by Philippe Cimadomo and headquartered in Meylan, France, Metrologic develops leading edge 3D inspection software and electronics which run measurement machines used for dimensional control notably in the automotive, aeronautic, transport and medical sectors. The company offers a hardware-agnostic metrology software suite compatible with all available metrology technologies on the market and delivering the highest level of accuracy, ease-of-use and processing speed. Metrologic solutions are used by +4,000 customers in over 40 countries.
Metrologic would form a new business unit within a new product area in Sandvik’s division “Machining Solutions” and would maintain brand independence, in line with Sandvik's decentralized business model. The combined offering of Sandvik Machining Solutions and Metrologic would help customers achieve a more seamless manufacturing chain by linking the machining and quality assurance measurement processes. The Metrologic management team would remain with the company.
Stéphane Epin, Partner at Astorg, stated: “Since our investment in Metrologic in 2015, the company has strengthened its technological leadership, in particular within the fast-growing robotized metrology space. In line with our investment philosophy, Astorg supported an ambitious development plan and encouraged significant investments in R&D and into the commercial organization. Sandvik’s strong interest in Metrologic is a testimony to the technological advance of the Metrolog X4 software suite, which the management team built over the last 10 years by committing the right R&D in the right direction. It is an undisputed success in the industry 4.0 space.”
Bertrand Gili, President of Metrologic Group, added: “Sandvik built a strong conviction on metrology in general and on our software solutions in particular. Through our collaboration on joint projects, we have come to know Sandvik very well and were impressed by their technological leadership as well as their respectful and decentralized management style. Joining forces with Sandvik will trigger synergies facilitating the seamless integration of 3D Metrology as part of the manufacturing process, which will definitively benefit to our customers and to the market in general. Sandvik will allow Metrologic to benefit from the support of a large and global organization, whilst maintaining its culture of innovation, uncompromising quality, and commitment to client service”.
Metrologic Group specializes in the design and manufacture of innovative leading edge 3D inspection software and electronics which run measurement machines used for dimensional control notably in the automotive, aeronautic, transport and medical sectors. Headquartered in Meylan near Grenoble, Metrologic has subsidiaries in the USA, Germany, Spain, Italy, Brazil and China and is backed by an international sales network of distributors located in over 30 countries. With over thirty years of experience, Metrologic provides its customers with high performing 3D measuring software, renowned for its superior degree of accuracy, ease of use, processing speed and for compatibility with all measurement machines available on the market.
Astorg is a European private equity firm with total funds under management of over €4 billion. Astorg seeks to partner with entrepreneurial management teams to acquire European companies and create value through the provision of strategic guidance, experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Though not specialized, Astorg has gathered a valuable industry expertise in technology-based industrial companies, healthcare and business-to-business professional services. Astorg has offices in London, Paris, Luxembourg and Frankfurt, plus Senior Advisors based in Zurich, Paris and London.
For further information about Astorg: www.astorg.com
About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. The Group holds world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating.
In 2017, the Group had approximately 43,000 employees and sales of 91 billion SEK in more than 150 countries within continuing operations.
Advisors to Astorg: Accuracy (Arnaud Lambert, Florence Westermann), Paul Hastings (Sébastien Crepy, Stanislas Offroy, Allard de Waal, Thomas Pulcini)
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