P2i acquires UK-based Surface Innovations

P2i Limited, the world leader in liquid repellent nano-coating technology, has acquired 100 per cent of the share capital of Surface Innovations Ltd, a UK-based technology company with a wide range of functional nano-coating patents. The terms of the deal were not disclosed.

The acquisition expands P2i's product portfolio beyond its market-leading technologies for liquid repellency, adding "functional" coating technologies with applications including anti-bacterial resistance, liquid attracting (super wettable), and many others.

Surface Innovations is a research and development company with 17 patent families that focus on functional nano-coatings obtained using plasma enhanced chemical vapor deposition. It was founded in 2001 by Professor Jas Pal Badyal as a spin-out of Durham University. Professor Badyal will sit on a new Technical Advisory Panel to provide ongoing scientific advice to P2i, as well as developing new patents and applications for the company.

The acquisition of Surface Innovations comes as P2i gains commercial traction in all five of its core markets: Electronics, Lifestyle, Energy and Filtration, Life Sciences and Military/Institutional. In the past year, P2i has tripled its employees to 75 and scaled up its operations, which are now located across Europe, North America and Asia (China, Singapore, Thailand and Indonesia).

Carl Francis, Chief Executive of P2i, said:
"P2i has excelled in commercializing its liquid repellent nano-coating technology, proving beyond doubt that plasma processing is a viable, cost effective industrial process. As our customer base expands and their requirements broaden, the technology we have acquired will enable us to commercialize new functional coatings that further enhance the performance of products ranging from consumer electronics to military clothing.

Professor Jas Pal Badyal, previously majority shareholder of Surface Innovations, commented:
"I'm delighted that my research and patents are now with P2i, which has a proven capability in commercializing plasma technology. It is the perfect vehicle to deploy these various technologies into global markets. We have highly complementary skills sets and this acquisition will see many exciting new inventions launched into P2i's primary markets."