Testing services supplier Element has restructured to improved its focus on the aerospace sectors.
The company, which earlier this month sold its North American Life Sciences division, for $400 million now has two main business lines: Element Aero, Space & Defense and Element Consumer and Industrials.
The move is intended to support its next phase of growth, said Element in an announcement. It brings together Element’s capabilities in materials testing, product qualification, and mission-critical assurance for customers operating in highly regulated aerospace, space, defense, and energy markets into a single division.
The changes take immediate effect, with Rick Sluiters, who was formerly executive vice president of Americas becoming CEO of Element Aero, Space and Defense, and Matt Hopkinson, formerly executive vice president of EMEAA appointed as CEO of Element Consumer and Industrials. Both leaders will continue to report to Group CEO, Jo Wetz.
Jo Wetz, Group CEO of Element, said, “This is a confident next step in Element’s evolution. By organizing around two highly focused global business lines, we are building on our strengths and creating stronger platforms for growth in mission-critical testing and product market access.
“For our customers, the new organisation will provide greater scale, broader expertise and a more connected offer across markets and geographies. For our colleagues, it provides greater clarity on where we are focused and how we will continue to grow.”
Element’s structure was previously based on two regions, the Americas and EMEAA (Europe, Middle East, Africa and Asia), with five business unit sitting underneath.
The company was formed in 2010, after a management buy-out of the testing division of the Netherlands-based Stork Engineering Group by 3i Group. In 2015 it was sold to UK-based private equity group Bridgepoint, and then purchased by state-owned investment firm Temasek for US$7 billion (£5 billion) in 2022.
In 2011 Element earned US$100 million in revenue and in 2026 approximately US$1.5 billion. During that time it has acquired more than 50 companies.
