Construction services firm Hilti has paid an undisclosed sum for the assets of Concrete Sensors, a US-based quality control sensor producer that counts building materials supplier Cemex as an investor.
Founded in 2015 as Structural Health Systems, Concrete Sensors supplies wireless sensors that can be submerged in liquid concrete to provide real-time data on its strength, temperature and relative humidity as it dries.
The technology is expected to strengthen Hilti’s digital construction product offering. Hilti will retain the existing pricing structure and keep on members of Concrete Sensors’ staff.
The company raised an amount indicated by a securities filing to be $2.9m in mid-2018 from Cemex subsidiary Cemex Ventures, venture capital firm Arab Angels Fund and Requus Ventures, a subsidiary of real estate investment and advisory firm Requus Capital.
Concrete Sensors had previously received $1m in debt financing between 2016 and early 2018, according to earlier filings.