Bridgepoint has agreed to sell Element Materials Technology to Temasek, Reuters reported on Wednesday. Bridgepoint has agreed to sell Element Materials Technology to Temasek, according to Reuters.

A Temasek logo is seen at the annual Temasek Review in Singapore. A Temasek logo is seen at the annual Temasek Review in Singapore. The review is an event where the company discusses its performance and outlook for the year.
LONDON, Jan 25 (Reuters) - Singaporean state-owned investor Temasek has acquired Element Materials Technology Group from Bridgepoint, the London-listed private equity firm said on Tuesday.
The terms of the deal were not disclosed. Sources had earlier told Reuters that the deal valued Element, which tests and certifies industrial products and materials, at about $7 billion.
Temasek's investment in AS Watson Holdings in early 2014 was much larger than this transaction.
It also marks a rare controlling-stake transaction by Temasek, which had been a minority shareholder in Element since 2019. Element is a company that generates annual revenue of around 1 billion dollars and has grown at over 20% per year over the last decade.
Temasek Holdings, a Singaporean investment company, announced that its portfolio value increased by 25% to a record S$381 billion in the year ending March 2021.
Bridgepoint acquired Element from British buyout group 3i for an undisclosed sum in December 2015.
Element is based in London and has clients in sectors including aerospace, industrial, energy, and technology. Its 7,000 scientists, engineers and technologists work across more than 200 laboratories.
Element was advised by Bank of America Securities, Goldman Sachs and Rothschild & Co. in connection with the proposed transaction. The proposed transaction remains subject to customary regulatory approvals.

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