Press Release
June 6, 2019

Intelex Announces Definitive Agreement to be Acquired by Industrial Scientific

The Private Equity team advised Intelex Technologies, a leading global provider of SaaS-based Environmental, Health, Safety and Quality (EHSQ) management software, on its definitive agreement to be acquired by Industrial Scientific, a global leader in connected sensing technology and safety-as-a-service and wholly owned subsidiary of Fortive Corporation (NYSE:FTV). Intelex will be acquired from JMI Equity and HarbourVest for $570 million.

The acquisition brings together the strengths of industry-leading EHSQ technologies to deliver on the promise of connected environmental, health and safety, and quality with a future vision of eliminating worker deaths. Coming on the heels of other buyouts of EHSQ software vendors by large PE firms, the acquisition of Intelex by Industrial Scientific is the largest in the history of EHSQ pureplay vendors and one of the top five largest Canadian technology company cash exits in the last decade. The transaction is expected to close in late second quarter or early third quarter of 2019, subject to customary closing conditions including regulatory approvals, upon which Intelex will be operated as a stand-alone company inside Industrial Scientific.

The Goodwin team was led by Brian McPeake and Amy Keller, and included partners Kelsey Lemaster, Steve Charkoudian and Sarah Bock, counsel Steven Argentieri and Jacqueline Klosek, and associates Christopher Edwab and April Sun.

For more details on the agreement, read the press release.