Air Products makes strategic investment in Inverness Capital Partners

05-Jun-2003

Today, Air Products announced that it has invested in Inverness Capital Partners, L.P., a $100 million private equity fund that provides growth and expansion capital to industrial companies with proprietary manufacturing technologies and processes in the industrial and advanced materials sectors.

Air Products has injected $6 million in the fund, making it a limited partner and strategic investor. Inverness invests in high growth, innovative companies - with between $5 to $50 million in annual revenues - that serve the Electronics, Oil and Gas, Food and Beverage, Energy and Power, and Automotive and Aerospace industries. Each of these areas is an important end market for Air Products' gases, chemicals, equipment and services.

"Through this investment, we will be able to look at the deal flow and evaluate technology positions that may complement or build on our existing growth businesses, or which may open up new market opportunities for us," said Art Katsaros, group vice president, Engineered Systems and Development. "By evaluating and investing in sound companies which serve the same growth sectors where we are focused, Inverness provides a unique venue for us to identify strategic co-investment opportunities."

Mr. Katsaros noted that today Air Products' venture investment portfolio consists of nearly one dozen companies in the electronics, e-business, hydrogen fuel cells and general technology areas. "As a company focused on championing innovation-both through our own internal research and development organization and through strategic external partnerships and alliances-our investment in Inverness fits with a core Air Products strength-the ability to build strong relationships that help us deliver real technology solutions for our customers," he said.

https://www.chemeurope.com/en/news/23957/air-products-makes-strategic-investment-in-inverness-capital-partners.html