March 02, 2023
Acquisition Strengthens ScioTeq’s Presence in Europe and Creates Synergies Serving Military Markets
LOS ANGELES, March 03, 2023 – OpenGate Capital, a global private equity firm, announced today that its portfolio company ScioTeq, a designer and manufacturer of advanced visualization solutions for the aviation, ATC, defense, and security markets, has acquired IRTS, a manufacturer of ruggedized displays and embedded computers for defense, aerospace and industrial applications. Terms of the acquisition were not disclosed.
Headquartered in Toulon, France, IRTS was founded in 1995 and has earned a reputation as a premier manufacturer of industrial electronics that prioritizes research and development and maintains a team of highly experienced engineers. IRTS’s specialty, state-of-the-art products are mission-critical in ground army vehicles and other military applications.
The add-on acquisition of IRTS deepens ScioTeq’s presence in the French market, expands ScioTeq’s product portfolio, and helps the company address a wider breadth of customers.
The deal also highlights OpenGate Capital’s investment approach of pursuing add-on investments as a means of growing and creating meaningful value in its portfolio companies and is the 13th add-on investment completed for the 11 platform companies within OpenGate’s Fund II portfolio.
“The acquisition of IRTS marks an exciting new chapter for ScioTeq and will help the company expand its product portfolio and unlock new value and synergies,” said Julien Lagrèze, OpenGate Capital’s Partner and Head of Europe. “We’re proud to bring together these two companies that produce important and innovative products.”
“IRTS is a highly respected equipment provider within the French market,” said Robert Gibbs, Group CEO at ScioTeq. “We’re thrilled by the opportunity to have them both supplement our product portfolio and guide our increasing presence in Europe. We intend to preserve the autonomy, business model, and unique SME culture of IRTS.”
“We are excited to join forces with ScioTeq,” added Bernard Dellery, CEO, and founder of IRTS. “With our market-leading portfolio of products and ScioTeq’s commercial and industrial reach, I am confident that together we will be able to accelerate our growth trajectory and expand our market.”
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France.
OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed 41 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
ScioTeq has 35 years’ experience in designing and manufacturing the most innovative visualization solutions in the Aviation, Air Traffic Control and Defense and Security markets. Barco gave ScioTeq the innovative strength and expertise, and a new production facility was put into use under Esterline.
Today ScioTeq has everything it takes to be successful. With sales, service, and R&D sites all over the world, we are able to provide solutions for the most challenging environments.
We enable our customers to make real-time decisions by providing advanced visualization solutions with the features needed to ensure success.
Our products are used in the air, on the ground and at sea, delivering mission-critical information to operators on some of the most advanced platforms on the planet.
ScioTeq, improving global situational awareness to enable a safer world!
For more information, go to www.ScioTeq.com
IRTS is a French company, with over 25 years of experience in the development and manufacturing of rugged displays and embedded computer solutions for the defense, aerospace and high-end industrial markets.
IRTS ruggedizes commercial-off-the-shelf components, such as LCD’s, processors and storage devices, to be integrated into fit-for-purpose display- and IT products, which can be deployed and used in extreme environmental conditions.
For more information, go to www.irts.fr
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