JMI, HarbourVest to sell Intelex to Industrial Scientific for $770 mln
Intelex Technologies, a Toronto-based provider of software solutions for environment, health, safety and quality (EHSQ) programs, has agreed to be acquired by Industrial Scientific for about $770 million (US$570 million). The sellers are JMI Equity and HarbourVest Partners. JMI, a U.S. growth equity firm, four years ago led a $160 million financing of Intelex. The deal is expected to close by Q3 2019, after which Intelex will operate as a stand-alone unit of Industrial Scientific. Based in Pittsburgh, Pennsylvania, Industrial Scientific is a gas detection management and safety solutions affiliate of Fortive Corp (NYSE: FTV). Industrial Scientific and Intelex said the acquisition is the largest in the history of EHSQ pureplay vendors.
6 June 2019•4 mins read
