Battery Ventures to Acquire steute Technologies

Battery Ventures is solidifying its healthcare market footprint with the purchase of steute Technologies GmbH & Co. KG, a global manufacturer of switches, sensors and other products that enable increased automation and safety. The company’s product line includes certified medical-control devices that help precisely control medical equipment in operating rooms globally.
 
“We are extremely excited to partner with steute, a company that has championed innovation and quality,” said Battery General Partner Jesse Feldman, who will join steute’s supervisory board. “We think steute is ideally positioned as a provider of key components that enable the automation of the medical and industrial markets.”
 
“The company’s technological leadership and close collaboration with its customers have fueled steute’s business over the last years. We believe through continued investment from Battery, the company can grow even further both organically and through targeted M&A activity,” Battery Principal Justin Rosner added. “We’re also excited to continue to work with the company’s existing managing directors, Marc Stanesby and Christof Gerhardy.”
 
Battery has nearly two decades of experience in the market for test, measurement and control equipment, including through its previous investments in U.K.-based Process Sensing Technologies* (2017) and U.S.-based Industrial Safety Technologies* (2011). Both Process Sensing Technologies and Industrial Safety Technologies are battery portfolio firms.
 
“Partnering with Battery allows us to tap the firm’s extensive experience and business network in the core markets in which we operate,” stated steute’s owner, Stefan Schmersal, who will continue to serve on the company’s supervisory board. “Handing over ownership of a family-run business is never easy. But I am confident Battery can help us continue the growth we’ve experienced over the last decades and help us expand the company even further.”
 
Based in Löhne, Germany steute has developed and manufactured sensors and control units for more than 60 years. The steute portfolio encompasses a range of standard and customized products for medical and industrial applications. steute collaborates closely with OEMs and end users to take customer requirements into account from the development stage onward.
 
Battery partners with founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, consumer tech, healthcare IT, and industrial technology, and life-science tools. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park (Calif.), New York City, London, and Tel Aviv.