Astor Place Holdings, the private investment arm of Select Equity Group LP, has acquired a majority interest in Calibration Technologies Inc., a manufacturer of hazardous gas detection equipment for employee safety.
Founded in 2004 and headquartered in Columbia, Mo., CTI manufactures gas detection systems and sensors for the industrial refrigeration market. The company serves a customer base across food and beverage, cold storage logistics and other refrigerated end-markets. The company also offers repair and calibration services at end-user facilities nationwide. The Exit Group invested alongside Astor Place and senior members of the CTI management team, who will continue to operate the business.
The Exit Group acted as buy-side M&A adviser for this transaction.