Greensboro, NC - February 28, 2020. Process Insights, a portfolio company of Union Park Capital, announced today that it has acquired Extrel CMS, LLC (“Extrel”), the leading manufacturer of research and process mass spectrometers. Extrel, which is based in Pittsburgh, PA, will join Process Insights’ existing portfolio of process instrumentation manufacturers including, COSA Xentaur, Alpha Omega Instruments, Hygrocontrol, LAR Process Analysers, Tiger Optics, and ATOM Instrument as another premium brand within Process Insights. Terms of the transaction were not disclosed.
Extrel has over 50 years of technology innovation and a global customer base across large research and national labs, chemical, refining and pharmaceutical industries. The company was founded in 1964 as Extranuclear Laboratories created by Ted Brackmann and Wade Fite, professors from the University of Pittsburgh, to provide innovative power supplies for mass spectrometry. In 1985 Extranuclear Laboratories became Extrel Corporation to further focus on analytical mass spectrometry products and later in 2004 became Extrel CMS, LLC. Extrel’s products help organizations continuously identify and quantify various molecular components in process environments to ensure safe operations, increase process efficiency and product quality, reduce disruptions and downtime, and attain compliance with numerous and complex regulatory requirements.
“Extrel is a perfect addition to our other Process Insights’ companies. The products and technology are highly complementary to our other businesses and will help us offer a complete solution to our customers,” said Monte Hammouri, CEO of Process Insights. “Extrel’s state-of-the-art mass spectrometers, as well as its after-sales service organization will enhance Process Insights and strengthen our position as a leading provider of process analytical instrumentation. The history and reputation of the Extrel brand as a technical and market leader is second to none. We are thrilled to welcome Extrel to the Process Insights family.”
“I believe that Extrel has great opportunity to take its excellent products and people and reach new markets and customers. Process Insights brings resources and capabilities to support Extrel’s discovery of its potential. As a Process Insights company, Extrel looks forward to working with these businesses to achieve the next chapter of success” added Luke Kephart, President of Extrel.
About Extrel CMS
Founded in 1964 and is based in Pittsburgh, PA. Extrel is a leading manufacturer of research and process mass spectrometers, residual gas analyzers, systems and components based on quadrupole mass spectrometry technology. The company’s analytical and process instruments are used in both, industry for process optimization and regulatory compliance as well as research, where Extrel’s instruments are used by Nobel Laureates and many others in a variety of applications worldwide. More information
about the company can be found by visiting www.extrel.com.
About Process Insights
The companies of Process Insights manufacture instruments focused on process analytics, control, and safety. Process Insights’ premium brands are used across a wide range of applications and end markets to ensure safe operation, increase product quality and attain higher levels of efficiency in process industries. Sensors, instrumentation, and software used in these mission-critical applications reduce disruptions, downtime, and lost productivity, all while managing increasing regulatory complexity and cost in industrial processes. Process Insights is backed by Union Park Capital, a private equity investment firm based in Boston, MA and focused solely on lower middle-market industrial technology companies. For more information, visit www.processinsights.
About ATOM Instrument
Headquartered in Houston, TX, ATOM manufactures laboratory and online elemental analyzers for total sulfur-nitrogen applications in liquids, solids and gases, providing practical and innovative measurement solutions to the petroleum, petrochemical and pipeline industries. ATOM’s total sulfur analysis is based on Excimer UV Fluorescence technology, a patented and proprietary technology developed by Mr. Franek Olstowski, Founder of ATOM Instrument. The benefits of using this technology are numerous allowing analyzers to be designed for ease-of-use, reduced maintenance, and increased reliability. For
more information, visit www.atominstrument.com.
About Tiger Optics, LLC
Founded in 2001, Tiger Optics offers gas analyzers, as well as atmospheric and cleanroom monitors based on Cavity Ring-Down Spectroscopy (“CRDS”) technology, a breakthrough discovery by Professor Kevin Lehmann, Ph.D., of Princeton University. Tiger Optics is headquartered in Warrington, PA in the Philadelphia suburbs. From the cleanest of semiconductor fabs to the harshest coal-fired power plants, Tiger Optics’ analyzers work to improve yields, reduce costs, and simplify regulatory compliance. For more information, visit www.tigeroptics.com.
About LAR Process Analysers AG
Established in 1986 by Dr. Werner Arts, LAR develops and manufactures advanced solutions for water quality analysis. The company is a global leader in the measurement of various water parameters – concentrating on TOC, TC, TOD, COD, BOD, TNb and toxicity – based on high-temperature combustion analysis. LAR is headquartered in Berlin, Germany with sales and service
offices in Hanau, Germany and Shanghai, China. For more information, visit www.lar.com.
About Alpha Omega Instruments Corporation
Founded in 1990 by Richard Buonauito and Stanley Hayes, Alpha Omega Instruments manufacturers and designs solutions for process measurement and analysis. The product portfolio consists of trace and percent oxygen analyzers and transmitters, safety monitors (oxygen deficiency and carbon dioxide) carbon dioxide analyzers, and moisture monitors. They are used by industrial,
government, and educational institutions around the world for process optimization and safety applications. For more
information visit www.aoi-corp.com.
About COSA Xentaur Corporation
COSA Xentaur Corporation, a leader in moisture detection and analysis, was founded in 1982 and is headquartered in Houston, TX with an additional manufacturing footprint in Yaphank, NY. COSA Xentaur has a direct sales team in the US and Germany and a network of global distributors serving a worldwide customer base. For more information, visit www.cosaxentaur.com.
About Union Park Capital
Union Park Capital is a private equity firm solely focused on lower middle-market industrial technology companies. Union Park takes a long-term perspective to help stakeholders build value over time, and drives value creation through profitably growing a
business, not financial engineering. Union Park Capital is based in Boston, MA and has extensive investments and expertise in the analytical instrumentation sector. To learn more, visit www.union-park.com.