Houlihan Lokey Advises Bacharach

Houlihan Lokey is pleased to announce that Bacharach, Inc., a portfolio company of FFL Partners, LLC, has acquired Neutronics Inc. The transaction closed on July 3, 2018.

Bacharach is a provider of cleantech solutions for gas and refrigerant leak detection and ongoing monitoring, combustion and emissions analysis, test & measurement instrumentation, and energy management for commercial and industrial applications. Bacharach products make the heating, ventilation, air conditioning, and refrigeration (HVAC-R) industries safer, cleaner, and more energy-efficient, enabling customers to increase productivity, reduce costs, and protect lives and the environment.

FFL is a San Francisco-based private equity firm with over $4.5 billion under management. For over 15 years, the firm has helped build industry-leading companies, providing capital and advice to exceptional management teams. FFL has deep experience in investing and operations and has brought large-company best practices and professional networks to smaller companies. Business growth has provided over 75% of the value created by FFL for its investors. FFL invests in business services, industrials, consumer products and services, financial services, and healthcare services.

Founded in 1976 and previously family-owned, Neutronics is a world-class provider of refrigerant and gas analysis instrumentation, including complementary non-dispersive infrared (NDIR) sensor technology as well as gas handling technologies. The three operating divisions, Neutronics Refrigerant Analysis, Gas Analysis Solutions, and Biomarine Inc., provide state-of-the-art test & measurement products and services to the automotive and commercial HVAC markets, high-purity oxygen analyzers to the semiconductor industry, and self-contained breathing units to the safety and rescue industry.

Houlihan Lokey served as the exclusive buyside advisor to FFL and Bacharach. This transaction highlights Houlihan Lokey's dedicated sector expertise and continued success advising premier companies in the test & measurement instrumentation and industrial technologies sectors.