COMPANY HISTORY

Over the past 15 years, the Nova Ventures management team has created four globally recognized instrumentation businesses by combining and fostering the growth of premium quality test, measurement, and sensor companies into cohesive platforms that have achieved market leadership in their respective segments.  Nova Ventures management has decades of direct design, engineering, global sales and distribution, finance, executive management and acquisitions experience at some of the leading instrumentation groups.  They bring this wealth of experience, as well as strong financial resources, to its portfolio companies.  At the same time, the companies under the Nova Ventures umbrella operate autonomously, retaining their existing brands and management teams, but benefit from a strong, experienced parent that can enable each company to achieve its full potential.

Nova Analytics was formed in 2003 and became a leading developer and manufacturer of premium quality laboratory, field, and online analytical instruments for the water, environmental, food & beverage, pharmaceutical, medical, and industrial markets.

Nova Technologies was formed in 2006 and was recognized as a leading developer and supplier of technology-based flow monitoring products and services for the water, wastewater, and hydroelectric markets.

Nova Metrix was formed in 2009 and is the world’s leading provider of geotechnical, environmental, and materials testing instruments, sensors, software, and consumables serving the structural health, construction, civil engineering, energy, and medical markets.

Nova Instruments was formed in 2010 and is a premium quality provider of high-tech analytical instrumentation for a broad range of scientific and industrial applications serving the Aerospace, Automotive, Oil and Gas, and Renewable Energy markets among others.  Nova Instruments’ established brands design, develop, and manufacture industry-leading test and measurement systems that reliably gather mission-critical data across numerous applications such as Experimental Fluid Mechanics; Spray, Gas and Combustion Diagnostics; Strain/Stress and Non-Destructive Testing.

In addition to supporting the continued growth of its existing platforms, Nova Ventures has substantial committed capital at its disposal and is seeking attractive instrumentation businesses that could form the nucleus of a fifth strategic platform.

Nova Analytics Corporation was formed in March 2003, was a world leader in the multi-billion-dollar electrochemistry and water quality instrumentation market.  The Company manufactured premium quality meters, sensors, analyzers, and related consumables used in industry, research institutions, and governments to analyze and control the quality and characteristics of water and wastewater, food & beverage, pharmaceutical and medical products, among others.

As of January 2010, Nova Analytics owned nine operating companies with more than 750 employees in eight different countries worldwide.  All Nova Analytics’ brands were recognized for superior quality and industry leading products with applications ranging from electrochemistry, optical measurement, temperature measurement, respirometry, and viscometry.

The platform began with Nova Analytics’s acquisition of Corning’s electrochemistry product line, re-branded as the ‘Pinnacle’ line upon acquisition in 2003.  Following the Corning product line acquisition, In the same year, Nova Analytics further grew by acquiring two leaders in the premium analytical instrumentation: WTW Wissenschaftliche-Technische Werkstätten GmbH (WTW), Germany’s leading manufacturer of laboratory and water & wastewater instrumentation; and Schott Geräte GmbH (initially rebranded ‘Schott Instruments’ then ultimately ‘SI Analytics’), Germany’s premier manufacturer of electrochemistry instrumentation.

With three well-respected brands anchoring Nova Analytics’ portfolio, 2004 marked a year of integration and operational improvements. In February 2005, Nova Analytics bought Secomam SA a spectrophotometer business in France.  Nova Analytics remained active in 2006 by acquiring two highly reputable German businesses: Sensortechnik Meinsberg GmbH (STM), an electrochemistry business developing electrodes; and Ebro Electronics GmbH & Co. KG, a supplier of temperature meters, electrodes and accessories for the food, clinical, pharmaceutical, and industrial markets.  In 2007, Nova Analytics acquired UK-based Bellingham + Stanley Ltd. (B+S), and US-based Global Water Instrumentation, Inc. (GWI).  B+S manufactures a range of digital refractometers and polarimeters and GWI supplies instrumentation for measuring ground and surface-water parameters such as quality, level, and flow.

Nova Analytics’ final acquisition occurred in December of 2009, when it purchased Norway-based Aanderaa Data Instruments AS (Aanderaa), a provider of sensors, instruments, and systems for measuring and monitoring in the most demanding environments.

On February 17, 2010 Nova Analytics was sold to ITT Corporation (NYSE: ITT), an engineering and manufacturing company engaged in water and fluids management, global defense, and security and motion and flow control.   After Nova Analytics was acquired by ITT Corporation, the business was spun out into what is today known as Xylem, Inc., a leading global water technology company committed to developing innovative technology solutions to the world’s water challenges.

Nova Analytics Acquisition Timeline

2003
Nova Analytics was formed in 2003 and ultimately became a global leader in analytical instrumentation technology addressing a broad spectrum of markets, applications, and industries.
March 2003
The Pinnacle series, formerly Corning’s electrochemistry product line, provides pH, I.S.E., dissolved oxygen and conductivity products for both handheld and benchtop applications. The brand is the result of Nova Analytics' initial acquisition, followed by substantial additional investment into product redesign and technology advances. The resulting instruments are feature-packed meters applicable to any lab application, ranging from education to the most demanding research or production needs.
May 2003
WTW Wissenschaftliche-Technische Werkstätten GmbH (WTW) designs and manufactures premium water and wastewater quality test instruments and accessories for laboratory, field, and online use. WTW's products include single parameter and multiparameter analyzers for pH, ORP, DO ISE and conductivity measurement, turbidity meters, photometers and OxiTop respiratory BOD measurement systems. Additionally, WTW offers ammonia, phosphate, nitrate and online analyzers.
October 2003
SI Analytics manufactures high-performance laboratory electrodes, titration, and viscometry instruments. SI Analytics' products include pH glasses, innovative electrodes, and electrochemical measuring instruments such as pH meters, conductometers, oxygen measuring instruments, piston burettes, and titrators. SI Analytics' core technologies, pH, titration, and viscometry serve key markets in the food & beverage, environmental, chemical, and pharmaceutical sectors.
February 2005
Secomam S.A. (Secomam) is a global provider of instruments for clinical biology, environmental, and analytical labs for use in research, industry, and education. Secomam's products include laboratory analyzers, such as VIS and UV-Visible spectrophotometers, field and online analyzers. Secomam’s products are used in the environmental, education, research, clinical, biology, industrial, and OEM equipment markets.
July 2006
Sensortechnik Meinsberg GmbH (STM) is a manufacturer of high-quality electrochemical sensors and analytical instruments and is particularly known for its pH sensor design and manufacturing expertise. STM is a leader in low-cost electrode manufacturing and a drinking water application specialist. Additionally, STM is an OEM supplier of instrumentation and sensors for the drinking water, swimming pool, and aquarium markets.
November 2006
Ebro Electronics GmbH & Co. KG (Ebro) is a designer and manufacturer of temperature, humidity, and data logging instruments for both laboratory and field use. Ebro’s products include compact battery-powered handheld instruments and data loggers for all physical values such as temperature, humidity, pH, salt content (via conductivity), vacuum, frying oil quality, air velocity, and RPM.
August 2007
Bellingham + Stanley Limited (B+S) is a leading manufacturer of refractometers, polarimeters, and calibration standards for the food & beverage, chemical, petrochemical, and industrial markets. B&S's products are used primarily for laboratory and field applications.
September 2007
Global Water Instrumentation, Inc. (GWI) is a manufacturer, distributor, and systems-integrator of water instrumentation, serving the water, wastewater, and environmental markets. GWI products include water level loggers and sensors, submersible pressure transducers, data-loggers, rain gauges, weather sensors, water quality sensors, and flow meters.
December 2009
Aanderaa Data Instruments AS (AADI) designs, manufactures, and sells sensors, instruments, and systems for measuring and monitoring demanding applications within the marine transportation, oil and gas, aquaculture, environmental research, and road/traffic construction markets.
February 2010
Nova Analytics was divested to ITT Corporation in February 2010 (what is today known as Xylem, Inc.)

As of January 2010, Nova Analytics owned nine (9) operating companies with over 750 employees in 8 different countries worldwide, all recognized for superior quality and industry leading products; ranging from electrochemistry, optical measurement, temperature measurement, respirometry, and viscometry.

On February 17, 2010 ITT Corporation announced the purchase of Nova Analytics, further strengthening ITT’s core business and increasing their global leadership position in the 6 billion dollar analytical instrumentation market, as well as improving position within water, wastewater and industrial process, food & beverage industries.

Nova Technologies Corporation, formed in June of 2006, was a leading provider of turnkey products and services designed to increase the efficiency in water and wastewater transportation systems. With over 325 employees, Nova Technologies was a leading developer and supplier of technology-based products for the water, wastewater, and hydroelectric markets.

Nova Technologies operated three independent businesses: ADS Environmental Services, Accusonic Technologies and Hydra-Stop. The Nova Technologies brands developed, manufactured, and integrated specialized instrumentation and proprietary software solutions enabling municipalities, industry, and government agencies to measure and analyze the capacity, quality, and integrity of water and wastewater systems infrastructure.

Nova Technologies’ foundation business, ADS Environmental Services, completed two horizontal acquisitions in 2006, which strengthened and anchored the platform.  The Company first acquired Severn Trent Pipeline Services allowing Nova Technologies to significantly grow its footprint in the water services market, penetrate the pipeline maintenance market through its Hydra-Stop brand and re-enter the Closed Circuit Television Video (CCTV) market.  The acquisition of DWC Technologies, which was tucked under ADS Environmental Services, strengthened the Company’s geographical footprint in the Southeastern U.S. and allowed Nova Technologies to enter the utility location/mapping industry.

Simultaneously, Nova Technologies supplemented its manufactured products with a comprehensive suite of software solutions, field services, and data reporting services for the municipal water and wastewater infrastructure industries. By 2008, Nova Technologies and its associated brands had completed over 5,000 flow measurement projects and provided equipment and services to customers in more than 40 countries.

On January 3, 2008, Nova Technologies was sold to IDEX Corporation (NYSE: IEX), a global provider of fluid-handling devices and other engineered equipment.

Nova Technologies Acquisition Timeline

November 2005
ADS Environmental Services (ADS) designs, engineers, markets, and services a wide range of flow monitoring equipment, software, and integrated flow monitoring systems used to detect inefficiencies in wastewater collection systems and drinking water distribution systems. ADS' hardware equipment includes remotely-managed sensing devices that monitor the physical characteristics, velocity and pressure of water and wastewater that flows through the collection and distribution system infrastructure. ADS' software products include large-scale, multi-user systems that enable monitoring, data collection and analysis, and remote management of water and wastewater networks. ADS also provides a complementary offering of professional integration, field inspection and field services. ADS' solutions are sold directly to municipal agencies and municipal authorities or indirectly through engineering consulting firms.
June 2006
Nova Technologies was formed in 2006 and became a leading developer and supplier of technology-based flow monitoring products and services for the water, wastewater, and hydroelectric markets.
July 2006
Hydra-Stop manufactures a full line of pipe maintenance equipment used for inserting, changing, or repairing valves or hydrants, tying-in new lines or services, changing large meters or backflow preventers, abandoning wells and storage. Additionally, Hydra-Stop provides contract services for line stopping, line tapping, and valve insertion using its branded products. Hydra-Stop is unique in that it manufactures a completely modular set of pipe maintenance equipment designed to stop boil orders, system shutdown, costly 'pump around' fees, and revenue losses.
December 2006
DWC TECHNOLOGIES
DWC Technologies is a regional, technical service firm specializing in wastewater flow monitoring, sewer system evaluation studies (SSES), and utility location and mapping. DWC Technologies developed innovative field services methodologies and procedures, much of which have become industry standards.
January 2008
On January 3, 2008, Nova Technologies was sold to IDEX Corporation (NYSE: IEX), a global provider of fluid-handling devices and other engineered equipment.