Atlas Material Testing Technology LLC has finalized an agreement to sell a majority stake in the company to Industrial Growth Partners (IGP), a specialized investment firm focused on middle-market industrial manufacturing and manufacturing services businesses. The investment in Atlas reportedly will provide additional capital to support the continued rapid growth that the company has experienced in recent years.
IGP, a San Francisco-based firm, invests in leading niche manufacturers of highly engineered products and has significant experience in both test and measurement markets and in facilitating ownership transitions within family-owned businesses.
"We conducted an extensive search to find the right partner for us", said Russell Lane, CEO of Atlas. "Our goal was an investor that will help us continue to invest in new technologies, and develop new products and services for the weather testing market. We are pleased to be associated with IGP."
"Atlas is an exceptional company that is a leader in its industry," said Eric Heglie, partner of IGP. "We believe that Atlas has the platform, the people, and the technologies to accelerate its growth trajectory. We are very excited about the opportunities ahead."
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IGP Invests in Atlas Material Testing Technology - Posted 10/31/07
October 31, 2007