Temasek Buys Bridgepoint’s Element Materials in $7 Billion Deal
- U.K. buyout firm sells testing company in biggest-ever exit
- Singapore’s Temasek already owned a minority stake in Element
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Singapore state-owned investor Temasek Holdings Pte acquired testing company Element Materials Technology from buyout firm Bridgepoint Group Plc, marking the U.K. buyout firm’s biggest-ever exit.
The transaction was announced on Tuesday, confirming an earlier Bloomberg News report, but terms weren’t disclosed. Temasek, which already owned over 20% in the business, acquired control at an enterprise value of more than $7 billion, people familiar with the matter said. That makes it one of Temasek’s largest investments in Europe to date.