SFW Capital Partners completes recapitalisation of Micromeritics Instrument Corporation

January 8, 2020

SFW Capital Partners (SFW) LLC, Rye, New York, USA, a specialised private equity firm that invests in leading providers of analytical instrumentation, software, and related solutions, has reported that it has completed a strategic recapitalisation of Micromeritics Instrument Corporation (Micromeritics), Norcross, Georgia, USA.

Micromeritics has over 400 employees globally and serves more than 1,000 customers each year. With SFW’s support and resources, Micromeritics reportedly plans to pursue several strategic growth initiatives, including the introduction of new products, expansion of sales and service presence and pursuit of strategic add-on acquisitions.

In this investment, SFW is partnering with Preston Hendrix, Micromeritics’ President, and his family, who will remain significant shareholders. As part of this transaction, members of Micromeritics’ senior leadership team are also investing to become shareholders in the company.

“When my family and the Board of Directors decided it was the right time to seek out an investment partner, our main objective was to find one that would help us accelerate our growth and further build our brand, enhance opportunities for our employees, and respect the culture that my father and Dr Orr founded and we’ve strived to enhance,” stated Preston Hendrix, President of Micromeritics. “For those reasons, we chose to partner with SFW Capital because of their extraordinary experience and track record in the analytical instrumentation and Industrial Technology sectors. We are thrilled to be aligned with arguably the most skilled, knowledgeable firm in the world when it comes to Micromeritics and what we do.”

As part of the transaction, Terry Kelly, SFW’s Operating Partner, will become the CEO of Micromeritics while Preston Hendrix will transition to the role of Chairman of the Board. SFW explains that Kelly is one of the most well-regarded and successful executives in the materials characterisation industry having spent the last fourteen years as President of TA Instruments, a leading manufacturer of analytical instruments for thermal analysis, rheology, and microcalorimetry. 

“I am excited to partner with Preston and SFW to help continue Micromeritics’ growth and success in the marketplace,” commented Terry Kelly. “Having spent over thirty years in the analytical instrumentation and materials characterisation market, I admire the business and brand that Preston, his family and all the employees at Micromeritics have built over the years. I look forward to leading Micromeritics as we make investments that will ensure that we can continue to deliver innovative, market-leading solutions and excellent service to our customers and offer opportunities for growth to our employees.”

“Given our deep history and focus on the analytical instrumentation sector, we have followed Micromeritics’ success for many years,” explained Ahmad Sheikh, a Partner at SFW who will become a member of the Micromeritics Board of Directors. “Micromeritics exhibits the key characteristics that we look for in our investments in the analytical instrumentation sector, including high-value products and services, deep customer relationships, and significant opportunities for growth. We look forward to partnering with Preston and his family, and Terry and the Micromeritics management team to build on and extend the success of the company.”



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