Shearman & Sterling advised Bridgepoint on its acquisition of Element Materials Technology from 3i Group for an undisclosed sum.
Element is a global leader in materials and product qualification testing in the aerospace, oil & gas and transportation markets. It can trace its origins back almost 200 years and operates in the global outsourced materials testing market with 34 laboratories in the US and 19 across Europe. Element serves a longstanding customer base of over 10,000 aerospace, oil & gas and transportation companies worldwide. The business generates annual revenues of approximately $290 million.
Bridgepoint is a major international private equity group focused on investing in market-leading businesses. Established more than 25 years ago, it has over €20 billion of committed capital from a global investor base.
Recently, Shearman & Sterling advised Bridgepoint on the sale of LGC (December 2015), the acquisition of Moneycorp (August 2014) and advised management on Bridgepoint’s sale of Quilter Cheviot (October 2014).