U.S – Battery Ventures, a global, technology-focused investment firm, has announced it has acquired ifp Institut für Produktqualität GmbH also known as Institute for Product Quality GmbH, a provider of analytical testing and analysis services for customers across the food, feed, and water sectors.
The company, founded in 2004 and based in Berlin, has earned a strong reputation for its focus on specialized testing for food allergens, pathogens, vitamins, and pesticides. In addition to providing analytical laboratory services, ifp manufactures diagnostic test kits for detection of vitamins, food allergens, pathogens, GMOs and other substances.
The company will continue to be led by its Managing Directors Dr. Wolfgang Weber and Carolin Poweleit, with Dr. Weber, the company’s founder, retaining an ownership stake in the business.
“At Battery, we have been tracking the critical food safety sector for several years, particularly as the global food-supply chain has become more complex—creating more opportunities for safety issues. At the same time, consumers are increasingly sensitive to food safety, quality and its sustainability, with many seeking healthier options that are free of additives.”
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.
“We are excited to partner with ifp to help drive the company’s growth in this expanding market, where customers are increasingly turning to specialized laboratories for safety and quality analysis.”
According to Business Wire, Smotherman and Rosner are both joining ifp’s board.
Dr. Weber noted that partnering with Battery, a large and well-capitalized global investment firm, will help the business grow organically and through targeted acquisitions, specifically as they think about serving their customers’ global needs and requirements for high-value analysis.
“We are excited to work with Battery on the next stage of our company’s journey. We look forward to the partnership with Battery and this important next step in ifp’s further development.”
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