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Battery Ventures Acquires Global Specialty Materials and Advisory Company Goodfellow
Strategic investment will help further digitise the company’s operations and fund acquisitions of new materials to support global research
Battery Ventures, a global, technology-focused investment firm, announced it has acquired Goodfellow, a specialist supplier of high-quality materials for research and development, prototyping and specialised manufacturing. Terms of the transaction were not disclosed.
Headquartered in Cambridgeshire, UK, Goodfellow has subsidiaries in China, France, Germany and the United States to serve its global customer base. Customers include advanced manufacturers, government research facilities, laboratories and top universities worldwide. Clients turn to Goodfellow to procure high-quality raw materials and semi-fabricated components that meet the most rigorous quality standards for their research as well as specialised manufacturing requirements, such as new product prototyping.
The broad research and development (R&D) market is poised for growth as the proportion of the global population that works in engineering and research increases, driving additional R&D activity and spend. At the same time, as scrutiny of materials in the global supply chain increases, businesses and laboratories recognise the importance of turning to a trusted partner that can guarantee purity and the exact characteristics of the materials used across researchers’ workflows.
Goodfellow’s extensive product catalogue includes more than 70,000 products, consisting of over 700 different materials in multiple forms, including alloys, ceramics, composites, compounds, glass, metals and polymers. In addition, the company also provides custom-made services for its clients. By employing highly sophisticated scientists and engineers, with extensive technical knowledge of materials and their processing requirements, Goodfellow collaborates with its customers to recommend suitable materials and products to meet the requirements of their specific applications.
“Goodfellow has built a strong reputation for first-class customer service in an industry where quality, reliability and expertise is critical,” said Battery Ventures General Partner Jesse Feldman. “We look forward to continuing this heritage and further serving Goodfellow clients worldwide by growing the company’s international business and broadening its product range, including through targeted M&A, as well as improving customers’ digital-procurement experience—allowing them to more easily buy more materials online.”
Goodfellow Sales Director Simon Kenney will succeed Stephen Aldersley as CEO. Aldersley will continue to support Goodfellow as a consultant to help the business transition the new ownership. In addition, Battery Ventures Executive-in-Residence Tom Reslewic will join as executive chairman to help the Goodfellow management team grow the business and oversee potential future acquisitions. Battery’s Feldman and Battery Vice President Justin Rosner will join the company’s board.
“Our goal has always been to be a trusted supplier of the most comprehensive range of materials for research, development and specialised manufacturing to ensure that our customers can have whatever they want, whenever they need it, wherever they are,” said Kenney. “Battery Ventures, a well-capitalised, global investment firm, will bring additional resources and a deep expertise in the industrial-technology market to help us accelerate growth in the next phase of Goodfellow’s journey. We look forward to continuing to build on Goodfellow’s legacy and thank Stephen for his key contribution to the business up to this point.”
Battery is continuing to expand its investment activity in the industrial-technology markets and has completed more than 60 industrial-related transactions across the U.S. and Europe since 2003.
With over 6,000 customers supported by a worldwide network of offices, agents and distributors, Goodfellow is a leading global supplier of metals, alloys, ceramics, glasses, polymers, compounds, composites and other materials to meet the research, development and specialist production requirements of science and industry. The company has an extensive range of 70,000 catalogue products in multiple forms available off the shelf, most subject to free delivery within 48 hours and with no minimum order quantities. Goodfellow also offers a comprehensive range of bespoke processing services, effectively operating as an extension of a customer’s production team in order to develop custom fabricated components in any quantity required.
Goodfellow’s in-house team comprises fellow scientists and engineers with extensive knowledge of materials and processing. Through their technical expertise and a supporting range of specification tools, the company has built an unrivalled reputation for helping to find solutions to even the most challenging of research problems. All of their products are underpinned by ISO 9001 quality accreditation.
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York.