Bridgepoint, a pan-European private equity investor has agreed to acquire Element Materials Technology, the global leader in materials and product qualification testing in the aerospace, oil & gas and transportation markets from 3i Group, multinational private equity, and venture capital. Financial terms were not disclosed. Element works with its customers to ensure that the materials systems and products that are in use in some of the world's most advanced industrial applications are safe, comply with relevant industry standards and are fit for purpose. This involves testing a material, part, product or weld from a production line to destruction. Element services a global customer base of OEMs' tier 2 and 3 suppliers and holds a broad portfolio of accreditations and customer approvals governed by the OEM. Element also carries out the product qualification testing of components and systems before they go into production in order to certify that they have passed appropriate quality and assurance tests. "With the arrival of a new shareholder, we are confident that we will be able to accelerate the execution of our strategic growth plans and high successful buy and build strategy. Bridgepoint has substantial knowledge of the testing sector and with them, we will be working to ensure that we meet our ambitious growth targets for the future," Charles Noall, Element President and CEO.