This is the second acquisition for Micronics since being acquired by Vance Street in April 2013. In December 2014 Micronics acquired Southern Filter Media, a manufacturer and distributor of dry environmental filtration products for application in a wide array of industries.
CP Environmental (CPE) offers engineering, installation, system evaluation services and replacement parts for air filtration and dust collection equipment. Customers use the company’s products and services to help meet EPA and OSHA requirements regarding particulate matter and combustible dust. The company is based near Chicago in Romeoville, IL (www.cp-environmental.com).
“We are pleased to have CPE become part of Micronics,” said Micronics President and Chief Executive Officer Rick Weiler. “Combining CPE with Southern Filter Media helps us accomplish our goal of building an industry-leading service capability that enables us to meet all of our customers’ dry filtration needs; from new equipment to consumables, replacement parts, repair and inspection services.”
Micronics provides filtration products to the mining, chemical, wastewater, metals, and food and beverage industries. The company was founded in 1983 and is headquartered in Portsmouth, NH with an additional facility in Stoke-on-Trent, UK (www.micronicsinc.com).
“We are delighted with the significant growth Micronics has achieved since Vance Street first invested in the company in 2013,” said Jake Blumenthal, a partner at Vance Street Capital. “CPE and Southern Filter Media are highly complementary and position the company to capitalize on the growth opportunities in the industrial filtration market which are increasingly being driven by more demanding environmental regulations.”
Vance Street Capital makes control investments in companies with enterprise values up to $200 million. Sectors of interest include general industrial, aerospace & defense, and medical components and devices. The firm is based in Los Angeles (www.vancestreetcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-17-15