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.
The Shearman & Sterling team advising on the transaction was led by partners Mark Soundy (London-M&A) and Sarah Priestley (London-Tax), and included partners Simon Burrows (London-M&A) and Ronan Wickes (London-Finance). Associates Anna Cooklin, Matthew Kichenside, Joseph Bradley (all London-M&A), Philip Stopford (London-Finance), Lois Howarth (London-Tax), and trainees Alexander Witt, Charlotte Rice and Michael Skouras supported on the deal.
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).