Temasek weighs sale of testing firm Element Materials

TEMASEK Holdings is weighing a sale of Element Materials Technology, a UK testing company it acquired about three years ago, according to people with knowledge of the matter.

The Singapore state investment company, which bought Element in a deal valuing it at more than US$7 billion including debt, is working with advisers to solicit interest, said the people, who asked not to be identified discussing confidential information.

The sale is likely to draw interest mainly from strategic parties, the people said. Temasek’s deliberations are at an early stage and there’s no certainty they’ll lead to a deal. A representative for Temasek declined to comment, while Element didn’t respond to a request for comment outside regular office hours.

London-based Element has over 9,000 employees and more than 270 laboratories in 30 countries, according to its website. 

Temasek completed its purchase of Element in July 2022 and, in September of that year, Element said it acquired Anaheim, California-based National Technical Systems, a qualification testing and inspection firm specialised in the aerospace and defence industries.