May 12, 2006 — /Industrial Scientific/ — PITTSBURGH — Industrial Scientific Corporation, a leading designer and manufacturer of portable gas detectors and gas monitoring equipment, announced today it has acquired Oldham, S.A. of France from 3i Group PLC in an all-cash transaction. Further financial terms were not disclosed.
“We are delighted to welcome the people and customers of Oldham to Industrial Scientific,” said Kent McElhattan, President and CEO of Industrial Scientific. “We share remarkably similar backgrounds and cultures. Both companies are uncompromising in their commitment to deliver highest quality products and best services to customers. Both are also committed to identifying and importing best practices in all areas of operations in order to serve customers better in an increasingly competitive marketplace. The motivation behind this transaction is simply to serve the customers of both companies better.”
Jean-Marc Santraine, President and CEO of Oldham S.A., added, “I am pleased that our combination with Industrial Scientific creates the clear, worldwide leader in gas monitoring instruments and systems. Expanded resources will provide our multinational customers with the benefits of more localized services and wider product offerings. I believe our customers will be supportive when they see how strongly the two companies complement each other in geography and product lines.”
The combined forces of Oldham and Industrial Scientific will significantly strengthen the Corporation’s ability to provide the best solutions to the worldwide market of gas and fire detection.
About Industrial Scientific Corporation
Founded in 1985, Industrial Scientific is the North American market share leader in designing, manufacturing, selling and servicing portable gas monitoring instruments, systems and related products. With continuous improvements in engineering and R&D, lean manufacturing operations and expanded service capabilities, Industrial Scientific is widely known for providing rugged, dependable products that excel in monitoring hazardous gases in the most demanding work environments in the world. Employing over 400 people, Industrial Scientific is the sole supplier of gas monitoring instruments to the National Aeronautics and Space Administration (NASA). For more information about Industrial Scientific, log on to www.indsci.com.
About Oldham S.A.
Oldham S.A. is a European market share leader in designing, manufacturing, selling and servicing stationary gas monitoring equipment and related products. Applying sophisticated engineering and scientific disciplines, it supplies life-preserving products and services worldwide. Headquartered in Arras, France, Oldham employs 300 people, has seven service centers across France and subsidiaries in Germany (Winter Gaswarnanlagen GmbH), the United Kingdom, Italy, Switzerland and Czech Republic. The Company was founded in 1920 by Joseph Oldham, inventor of the miner’s cap lamp. For more information about Oldham, go to www.groupoldham.com.
Contact: Kay F. Mangieri, Director of Marketing
E-mail: [email protected], Phone: 1-412-788-4353