Industrial Safety Technologies (IST) manufactures products used to protect a range of assets ranging from refineries (through products such as fixed-gas detectors) to human life (through products such as portable gas detectors).

Background:

Following a year of internal industry research, Battery set out to consolidate a highly fragmented industrial-safety technology market with a specific focus on gas detection and analysis technologies.

Battery’s Impact:

Battery consolidated five complementary companies into one platform: IST. Each company demonstrated a history of brand recognition and significant market share in its respective application and geographies.

With a focus on growing the newly consolidated IST, Battery:

• Grew sales from $20 million in 2011 to more than $140 million in 2015, fostering significant organic growth in each business.
• Sold a broad product set, including fixed-gas and flame detectors; portable gas detectors; flame detectors; gas-leak measuring instruments; open-path infrared detectors; and laser-gas detectors.
• Expanded into markets including oil and gas; industrial manufacturing; energy production and distribution; petrochemicals; government/homeland security; and others.
• Strategically managed seven manufacturing hubs around the globe.
• Attributed more than 25% of company revenue to recurring aftermarket service, spares, and consumables.

Outcome:

In 2015, Scott Safety, a division of Tyco International, acquired IST for just under $330 million.