October 25, 2018
Astor Place Holdings Announces the Acquisition of Sentech, Inc.
NEW YORK, NY - Astor Place Holdings (“Astor Place”), the private investment arm of Select Equity Group, L.P. (“SEG”), announced that it has acquired a majority interest in Sentech, Inc. (“Sentech” or the “Company”) from its family founders. Sentech is a Pennsylvania-based designer and manufacturer of position sensors. Terms of the transaction were not disclosed.
Founded in 1988, the Company’s sensors are used in challenging environments such as hazardous, high-pressure, vibration and shock-prone areas. The end markets for Sentech’s products include power generation, aerospace & defense and a diverse range of industrial applications that require precision and reliability.
Dipak and Mina Patel, CEO and President of Sentech, respectively, along with the existing management team, will continue to run the business going forward. “We are excited to partner with Astor Place on this next phase of our evolution. Astor Place’s long-term ownership mentality and sector knowledge will enable us to methodically build out additional capabilities, especially within our existing aerospace and industrial application channels,” said Mr. Patel.
Praveen Jeyarajah of Astor Place noted that, “SEG has studied and invested in the sensor value chain for over a decade. Sentech’s commitment to customer service, high-quality engineering and competitive lead times differentiates Sentech in the marketplace. We look forward to working with the Patel family and the Sentech team as the business continues to expand.”
About Sentech, Inc.
Sentech designs and manufactures a comprehensive line of position sensors. Its products include linear variable differential transformers (LVDTs), rotary variable differential transformers (RVDTs), variable inductance position sensors sold under the Fastar® and Hydrastar® brands and other position sensors for special applications. www.sentechlvdt.com
About Astor Place Holdings
APH is the private investment arm of Select Equity Group, L.P. It seeks to deploy patient capital in partnership with exceptional management teams to drive long-term value creation in lower middle market North American companies. www.astorplaceholdings.com
About Select Equity Group, L.P.
SEG manages over $22 billion across long-only and long/short equity strategies that share a fundamental investment philosophy and centralized research effort. SEG is employee owned and was founded on the premise that rigorous, independent research and disciplined investing will generate superior returns. Its investment team of over 40 professionals includes a 13-person field research division composed of former journalists and sourcing specialists. SEG seeks to invest in the highest quality businesses—those with strong, predictable growth, high returns on invested capital and well-established barriers to competition. www.selectequity.com