ARX Equity Partners acquires Instrumentation Technologies
ARX Equity Partners (ARX), a private equity firm with a 20-year track record supporting the growth and development of mid-sized companies in Central Europe, has is to acquire Instrumentation Technologies (I-Tech).
Financial details of the transaction were not disclosed. Completion of the acquisition is subject to customary closing conditions. As part of the deal, ARX has agreed to partner with the Company ́s existing management team, who will continue to lead its future growth and development.
Founded in 1998 and headquartered in Solkan, Slovenia, I-Tech is the global market leader in the development and assembly of high-specification instrumentation for data acquisition and signal processing used in scientific particle accelerators. In addition, I-Tech has developed a strategy for the utilitisation of the company’s operational and R&D capabilities to develop instrumentation for medical proton therapy applications as well as broader industrial markets.
The transaction also includes Red Pitaya, a handheld electronics lab incorporating instruments such as oscilloscopes and signal generators. A market that is currently witnessing large scale adoption among signal processing engineers, hobbyists and students.
ARX has acquired the Company from its founders, who were advised by Acuity Advisors.
Rok Ursic, Founder of Instrumentation Technologies, says: “When I founded I-Tech in 1998 my mantra was "reach high" and this spirit has permeated the company from its inception. It has allowed us to attract the best tech talent in the region to grow and develop I-Tech to where it is today. Together we have built a world class organisation and I would like to thank all the people who stood by my side. I-Tech is in the best condition in the history of the company and I would like to thank ARX for recognising its potential. I am confident that together with the I-Tech team they will write an even more successful story. I am totally dedicated to my new startup now.”
Brian Wardrop, Managing Partner at ARX Equity Partners, says: “ARX is delighted to partner with I-Tech which is an outstanding example of a highly successful Slovenian entrepreneurial success story. Our primary aim will be to support the I- Tech team in order to grow and develop the company organically. The ARX track record already contains several successful Slovenian investments and we are excited to make another investment in the country, to embark on this growth and development journey with I- Tech.”
Elvis Janezic, CEO at Instrumentation Technologies, says: “Together with our new partner, we look forward to continuing and accelerating our innovation-driven strategy, while serving our customers with the highest performance instruments for particle accelerators. We will also focus on expansion opportunities in adjacent industries where we are uniquely positioned to deliver solutions developed by I- Tech’s world-class technical team.”