Greenville, S.C. – VentureSouth is pleased to announce its successful exit from portfolio company Sensory Analytics after its recent acquisition by Industrial Physics.
Sensory Analytics, based in Greensboro, N.C., is the maker of Specmetrix, a transformative technology for real-time, non-contact thickness measurements for films and coatings. Specmetrix systems are deployed around the world by major manufacturers in packaging, coil coating and other global industrial applications.
Industrial Physics, a global packaging and material test and measurement provider, announced its acquisition of Sensory on August 2. Industrial Physics is based in New Albany, Indiana, and is a portfolio company of KKR, an internationally-renowned private-equity firm.
Though terms of the acquisition remain undisclosed, nearly 150 VentureSouth investors realized returns from investments in two equity rounds for the company. This transaction marks the sixth successful exit from the VentureSouth Angel Fund, and brings the total count of successful investment rounds for VentureSouth to 57.
VentureSouth Managing Director Matt Dunbar, commented: “We have enjoyed working with CEO Greg Frisby and the Sensory Analytics team since our early investments in the company. We congratulate them on a successful outcome for their team and investors, and we look forward to their accelerating impact on the market as part of Industrial Physcis. We would also like to thank VentureSouth members JB Holeman and Chuck Tutterow for their contributions as VentureSouth’s representatives on the Sensory Analytics board of directors.
You can read more about the transaction here, and to learn more about VentureSouth, please visit https://www.venturesouth.vc.