Guimarães, 01 of July, 2019 – CRITICAL Materials, the leading structural health management and monitoring company, has agreed the completion of a management buyout that will see the brand relaunch as Stratosphere. The agreement will see the company become a fully-independent, employee-owned entity with the same management team and vision.
CRITICAL Materials was established in 2009 as a partnership between global tech investors Critical Ventures and two researchers from the University of Minho, Dr. Gustavo Rodrigues Dias and Dr. Julio Viana. The company quickly became a leading provider of structural health management solutions in international markets like aerospace, defence and energy, with a client base that includes AIRBUS, ESA, Curtiss-Wright, GE Power, EDP Renewables and NOS.
The management buyout is for an undisclosed sum and sees the original founders acquire Critical Ventures’ shares. The company will retain its intellectual property, management team and headquarters in the Portuguese city of Guimarães. Over the next few months, it will begin transitioning its brand from CRITICAL Materials to Stratosphere.
Gustavo Rodrigues Dias, CEO and Co-Founder, said: “This agreement is the culmination of many years working with Critical Ventures, whose support was paramount for the development of the company.With the closure of this buyout, a new chapter begins with exciting challenges and opportunities. We move into the future with the same disruptive vision and the same original DNA that we have built on and strengthened over the last ten years.“
Commenting on the agreement, Pedro Murtinho, Partner at Critical Ventures, said: “After a decade of partnership and growth, we’re delighted to see CRITICAL Materials take the next step in their journey and we wish the whole team well. We look forward to the company’s diagnostic and prognostic technologies continuing to transform critical industries across the world.”
The buyout agreement was concluded with the support of Barbara Godinho and Pedro Gaspar from PLMJ.
About Stratosphere S.A. / CRITICAL Materials S.A.
From September 2019, Stratosphere S.A. will become the new global brand of CRITICAL Materials S.A. The company develops advanced solutions for the evaluation and management of critical applications of materials and structures. Founded as a spin-off from Universidade do Minho, the company kicked-off its operations in 2009, with headquarters and a technical centre in Portugal and commercial offices in the UK, Brazil and UAE. The company works in industries including aerospace, defence and energy. The company operates according to the standards set out in ISO 9001:2000 Tick-IT, ISO 9100 and CMMI L3. For more information visit www.critical-materials.com