Pfingsten Closes Third Add-On for Full Spectrum

Pfingsten Closes Third Add-On for Full Spectrum

Full Spectrum Group, a portfolio company of Pfingsten Partners, has acquired Analytical Maintenance Services.

Full Spectrum (FSG) is a provider of repair, maintenance, and validation services for laboratory instrumentation. Validation ensures that a product, service, or system meets requirements and specifications and is a required component of ISO 9000 certification. FSG offers service contracts, preventative maintenance programs, instrument qualification and repair services, replacement parts, and reconditioned instruments. Many of the company’s customers are active in the biotechnology, pharmaceutical, forensics, environmental, petroleum, food and flavor, cannabis, and government sectors. FSG is headquartered near Los Angeles in Orange, California.

Analytical Maintenance Services (AMS) is a provider of laboratory instrumentation repair, qualification and validation services to companies operating in the pharmaceutical, chemical and forensics sectors. AMS is headquartered in Boca Raton, Florida.

“The acquisition of AMS expands our service coverage in the Southeast and strengthens our presence in the pharmaceutical market,” said Bob McLeese, the CEO of FSG.  “We continue to focus on strategic acquisitions that add new service capabilities, expand our geographic coverage or strengthen our position within specific end markets.”

The buy of AMS is the third add-on acquisition completed by the company since being acquired by Pfingsten in February 2019. The two earlier add-ons were the June 2020 buy of the field services division of Pion, a North Carolina-based provider of repair, maintenance, validation, and qualification services for laboratory instrumentation used in the biotechnology, life sciences, and pharmaceutical sectors; and the March 2021 buy of Cascade Thermal Solutions, a California-based provider of parts and repair services for scientific refrigeration, incubation, sterilization, and other thermal laboratory equipment.

Chicago-based Pfingsten invests in middle-market manufacturing, distribution and business services companies that have transaction values ranging from $15 million to $100 million, revenues from $20 million to $150 million, and EBITDA between $3 million and $12 million. Since completing its first investment in 1991, Pfingsten has acquired 146 such companies – including 50 platforms – through five funds with total commitments of $1.3 billion.

© 2021 Private Equity Professional | April 16, 2021

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