Battery Ventures Agrees to Acquire Medical and Industrial-Automation Company steute Technologies
2024年5月20日 - 4:00PM
ビジネスワイヤ(英語)
Partnership to fuel growth in the business
providing intelligent sensors, hardware and software systems for
complex industrial and medical applications
Battery Ventures, a global, technology-focused investment firm,
today announced it has agreed to acquire steute Technologies GmbH
& Co. KG, a company with over 60 years of experience in
manufacturing innovative technology solutions for the medical and
industrial sectors.
Based in L�hne, Germany, steute is a global manufacturer of
switches, sensors and other products that enable increased
automation and safety. The company’s product line includes
certified medical-control devices that help precisely control
medical equipment in operating rooms globally.
In addition to the medical industry, steute’s sensor and
switching devices are pivotal in industrial environments—where
safety and reliability are paramount—particularly in environments
that must withstand explosive or corrosive conditions and extreme
temperatures. steute also provides automation solutions across the
shop floor by wirelessly connecting key elements of
manufacturing.
“We are extremely excited to partner with steute, a company that
has championed innovation and quality,” said Battery General
Partner Jesse Feldman, who will join the company’s supervisory
board. “We think steute is ideally positioned as a provider of key
components that enable the automation of the medical and industrial
markets.”
Across its end markets and application areas, steute has emerged
as a leader particularly in wireless technology, added Justin
Rosner, a Battery principal. “The company’s technological
leadership and close collaboration with its customers have fueled
steute’s business over the last years. We believe through continued
investment from Battery, the company can grow even further both
organically and through targeted M&A activity,” Rosner said.
“We’re also excited to continue to work with the company’s existing
managing directors, Marc Stanesby and Christof Gerhardy.”
Battery has nearly two decades of experience in the market for
test, measurement and control equipment, including through its
previous investments in U.K.-based Process Sensing Technologies*
(2017) and Industrial Safety Technologies* (2011), based in the
U.S.
“Partnering with Battery allows us to tap the firm’s extensive
experience and business network in the core markets in which we
operate,” said steute’s owner Stefan Schmersal, who will continue
on at the company on its supervisory board. “Handing over ownership
of a family-run business is never easy. But I am confident Battery
can help us continue the growth we’ve experienced over the last
decades and help us expand the company even further.”
*Denotes a Battery portfolio company. For a full list of all
Battery investments and exits, click here.
About steute Technologies
For more than 60 years, steute has been developing and
manufacturing sensors and control units which meet the highest
standards of quality and reliability. The steute portfolio
encompasses a wide range of standard and customized products for
medical and industrial applications. steute collaborates closely
with OEMs and end users and to take customer requirements into
account from the development stage onwards.
About Battery
Battery partners with exceptional founders and management teams
developing category-defining businesses in markets including
software and services, enterprise infrastructure, consumer tech,
healthcare IT and industrial technology and life-science tools.
Founded in 1983, the firm backs companies at all stages, ranging
from seed and early to growth and buyout, and invests globally from
offices in Boston, San Francisco, Menlo Park, New York, London, and
Tel Aviv. Follow the firm on X @BatteryVentures, visit our website
at www.battery.com and find a full list of Battery's portfolio
companies here.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520060446/en/
Megan O’Leary Marketing Director, Battery Ventures
moleary@battery.com (415) 426-5912