Tekscan Acquired by Artemis
New Era of Innovation & Strategic Growth for Leader in Ultra-Thin Tactile Force and Pressure Sensors
BOSTON, Sept. 9, 2020 /PRNewswire/ -- Tekscan, Inc., a leading manufacturer of flexible, ultra-thin sensors and systems, announces it has been acquired by Artemis Capital Partners (Artemis), a Boston-based private equity firm focused exclusively on partnering with differentiated industrial technology companies.
Founded in 1987, Tekscan has been at the forefront in the research and development of ultra-thin force and pressure sensing technology to create differentiated products or improve clinical and research outcomes. With a wide range of applications, a strong patent portfolio, and proprietary technology, Tekscan has always pushed the limits through continuous innovation to maintain its world-leading position in the area of tactile force and pressure sensing for its customers globally. Tekscan has developed a diversified business of customers within test and measurement, medical, dental, and retail industries, whether as stand-alone solutions or as an embedded technology.
"From the first day we met the Company, many years ago, we saw a business with exceptional technology that was poised for strategic growth. Tekscan's customer and employee-first approach are the trademarks of an Artemis business and we are thrilled to be partners in growth with Tekscan," said Peter A. Hunter, Managing Director at Artemis and new Board member at Tekscan.
For the last 20 years, Tekscan's President, Steve Jacobs, with Vice President and new Interim President, Charlie Malacaria, grew Tekscan into a company with a large product portfolio and a global network of channel partners. "The partnership with Artemis is the next chapter in a healthy and growing legacy for Tekscan," said Jacobs.
"We believe that we have found the perfect home for Tekscan to embark on the next phase of growth and we could not be more excited about the outcome," continued Jacobs. "Tekscan employees, channel partners, and customers are in great hands with a bright future ahead."
Olly Forrer, Investment Team member at Artemis and new Board member at Tekscan said, "Tekscan's technology and capabilities speak for themselves and we are honored to partner with the team to drive strategic growth. Over the past 30 years, Tekscan has been the leader in the tactile force and pressure sensing markets and we will continue to innovate and serve our customers' needs."
Malacaria added, "We find that Artemis' strategic vision for growth and innovation share many of the same principles we value at Tekscan. Artemis has an established track record for supporting businesses similar to ours, and we are confident this partnership will provide a strong foundation to carry Tekscan into a new era with exceptional products and service for our customers."
Under Artemis's ownership, Tekscan will continue to operate as an independent company from its headquarters in Boston, MA. EC Mergers and Acquisitions acted as the sole advisor to Tekscan, Inc.
Since its founding in 1987 and located in the Innovation District of Boston, Tekscan has been at the forefront in the research and development of ultra-thin force and pressure sensing technology for use across a wide range of applications. With a strong patent portfolio and proprietary technology, Tekscan maintains its world-leading position in the area of tactile force and pressure sensing by providing customers with actionable information they need to optimize product design and improve clinical and research outcomes.
Founded in 2010, Artemis is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies, including sensor technologies. Artemis seeks to partner with companies that have talented established management teams, outstanding engineering capabilities, unique products, and expanding markets. For more information on Artemis, please visit: www.artemislp.com.
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