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.
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.
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.