Element Materials Technology Acquires Exova
EDINBURGH, UK - Laboratory testing company Exova, Edinburgh, UK, has become part of the Element Materials Technology Group, a testing and product qualification business.
The combined company, which is majority owned by private equity firm Bridgepoint, now has more than 6,200 employees and will operate in the future as Element Materials Technology. The new Element Group will consist of 200 laboratories located in more than 30 countries.
Exova will continue to operate business as usual under its new ownership and name. A full program of organizational integration is underway to introduce processes and procedures across the group as the Exova team becomes part of the Element community.
Ian El-Mokadem, the former CEO of Exova, has moved on to pursue other opportunities, while Element’s CEO Charles Noall takes responsibility for the combined company, alongside a new executive team made up of senior management from both companies.
One of the fastest growing independent materials testing and product qualification companies in the world, it is expected that the combined group will deliver in excess of $700 million in annual revenues and serve more than 40,000 customers worldwide.