Houlihan Lokey Advises Element Materials Technology

Houlihan Lokey is pleased to announce that Element Materials Technology Ltd. (Element), a portfolio company of Bridgepoint Advisers (Bridgepoint), has acquired PCTEST Engineering Laboratory, Inc. (PCTEST), a privately held company. The transaction closed on December 30, 2019.

PCTEST is a premier research and development, certification, and testing business that has built a strong reputation in the mobile device, wearables, and network connectivity regulatory and compliance sectors. Headquartered in Columbia, Maryland, where it has three facilities, PCTEST also operates two laboratories in Silicon Valley, California, one laboratory in Ibaraki, Japan, and another in the region of Suwon, South Korea.

The acquisition signals the creation of an entirely new connected technologies sector in Element that will serve a wide range of customers from its 17 combined laboratories across the U.S., U.K., Germany, China, Japan, and Korea. The sector will harness the commercial and technical synergies of Element's existing strength in wireless, safety, and electromagnetic compatibility (EMC) testing, alongside PCTEST's recent significant investments behind 5G testing capability and a full suite of connected devices testing and certification services. These comprehensive services include radio frequency (RF) exposure and specific absorption rate (SAR) testing, advanced battery performance and safety, RF and protocol testing, carrier conformance assessments, and over-the-air (OTA) radiated antenna performance testing.

In addition to PCTEST's world-class facilities, the new connected technologies sector will also better serve its global customer base from Element's existing laboratory network. Customers will have access to the new sector's testing and certification services, offering assessments of wireless technology in the consumer, healthcare, and automotive industries, as they integrate new technology and features such as 5G.

Element currently has one of the largest and most complete sets of product qualification testing capabilities and services in the world, and sits at the forefront of testing and qualifying new product innovations in the aerospace, consumer, energy, medical device, telecoms, and transportation markets. From major components and systems within next-generation aircraft and spacecraft to the latest product innovations within digital and wireless communications devices, the emerging autonomous vehicles sector, and the smallest medical implants used within the human body, Element works in partnership with its customers at the forefront of their R&D activities.

Houlihan Lokey served as the exclusive buyside advisor to Element and assisted in structuring and negotiating the transaction on behalf of Element. This transaction highlights the ongoing success of Houlihan Lokey's Testing, Inspection, Certification & Compliance practice and underscores the firm's position as the preeminent advisor in the sector.