PendoTECH has been sold to Mettler-Toledo International, Inc. (“Mettler-Toledo”).
PendoTECH is a manufacturer and distributor of single-use sensors, transmitters, control systems and software for measuring, monitoring and data collection primarily in bioprocess applications. PendoTECH’s focus is serving bio-pharmaceutical manufacturers and life science laboratories. The company is based in Princeton, New Jersey, with a majority of its sales in North America.
Mettler-Toledo is a publicly traded (NYSE: MTD), global leader in precision real-time measurement solutions of key process control parameters used in bioprocessing, including sensors to monitor pH, dissolved oxygen, carbon dioxide and other parameters. PendoTECH expands Mettler-Toledo’s offering to include various sensors, including pressure, which is an important and common control parameter in downstream and upstream bioprocess applications. Mettler-Toledo is headquartered in Greifensee, Switzerland.
The acquisition consideration includes an initial payment of $185 million, plus a contingent consideration of up to $20 million.
EC M&A acted as the exclusive financial advisor to PendoTECH on this transaction.
