Flusso sold into foreign ownership for £28m

Two global acquirers have jointly snapped up Cambridge flow sensor technology company Flusso for £28 million. 

The buyers, whose identity is being kept secret, are a company and a global private equity fund focused on investing in semiconductor companies and other hi-tech industries.

The deal will enable the acquirers to expand their current product portfolio into flow and environmental sensing and establish a European footprint in Cambridge to add to their existing facilities in the US and China.

It will also give Flusso immediate access to significant additional expertise and capacity in the design, development and manufacture of new semiconductor devices.

Flusso – a 2016 spin-out from the University of Cambridge – will continue to operate under its own brand name and with its existing management team under the direction of CEO and company co-founder Dr Andrea De Luca.

He said: “Everyone at Flusso is excited by what this acquisition means for our business as we power into a new phase of development.

“It will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations. We will also get improved access to markets and customers, particularly in Asia.”

When it was founded the company received support from Cambridge Enterprise, the university’s commercialisation arm. It completed a significantly over-subscribed series A round in June 2020, led by Parkwalk Advisors, to raise $5.7 million and launched its first product, the FLS110, as the world’s smallest flow sensor targeting high-volume consumer, industry and medical applications later that year.

Flusso employs 27 people in Cambridge but more hires could be on the cards as the new relationship blossoms. The company has a sales office in the US for the North America market and one in Hong Kong for Asia.

Flusso also works with a network of global online and technical distributors (nine in total currently), and the new acquirers want to help the business expand its network in both those major territories.

Goodwin Procter provided legal counsel to Flusso on the sale with the two firms Baker McKenzie and Katten representing the company and private equity fund.

John Pearson, investment director at Parkwalk, said: “Parkwalk is delighted about the acquisition of Flusso, which will provide the business with the growth funding it requires for the next stage. 

“We have supported Flusso since early 2019 and always felt that the mixture of truly innovative technology and a highly experienced team would ensure the success of this company.”

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