IK Partners’ (IK) IK Small Cap III Fund has acquired a co-controlling stake in Metrology & Monitoring Solutions Group (MMS), a French metrology expert specialising in wireless temperature monitoring solutions for the Pharmaceutical, Healthcare and Food industries.
IK is investing from its dedicated pool of Development Capital and is acquiring its stake from Naxicap Partners, alongside the CEO and management team who are reinvesting.
Financial terms of the transaction have not been disclosed.
Founded in 1845 and headquartered in Bezons, France, MMS designs, assembles, distributes and installs measuring and monitoring devices used for the traceability of temperature and humidity, predominantly in the Healthcare and Food industries. Since 2015 and under the leadership of CEO Pascal Vermeersch, MMS has: launched a new generation of IoT devices; completed two add-ons to complement its metrology services and software offerings; and opened two foreign offices to better serve its customers and assist local partners.
With the support of IK, the Group aims to accelerate international development, strengthen and diversify its product offering with a strong emphasis placed on innovation, and complete several complementary acquisitions across IoT, metrology and validation services, as well as traceability software
