Temasek Buys Bridgepoint’s Element Materials in $7 Billion Deal

Singapore state-owned investor Temasek Holdings Pte acquired testing company Element Materials Technology from buyout firm Bridgepoint Group Plc, marking the U.K. buyout firm’s biggest-ever exit.

The transaction was announced on Tuesday, confirming an earlier Bloomberg News report, but terms weren’t disclosed. Temasek, which already owned over 20% in the business, acquired control at an enterprise value of more than $7 billion, people familiar with the matter said. That makes it one of Temasek’s largest investments in Europe to date.

Element Materials, which can trace its history back almost two centuries, generates annual revenues of about $1 billion and ...