VANCE STREET CAPITAL COMPLETES ANOTHER ADD-ON ACQUISITION FOR PORTFOLIO COMPANY, MICRONICS
CP Environmental Acquisition to Provide Customers One-Stop Shopping for Dry Filtration Needs
Los Angeles and Portsmouth, NH – March, 16 2015 – Vance Street Capital LLC, a Los Angeles-based private equity firm and Micronics, Inc., a global provider of aftermarket filtration products and OEM filter presses, today announced the acquisition of CP Environmental (CPE), a full-service engineering and design firm that sells, installs and services a wide range of dry filtration equipment. Terms of the transactions were not disclosed
This is the second acquisition for Micronics, having acquired Southern Filter Media (SFM), a manufacturer and distributer of dry environmental filtration products for application in various industries at the end of 2014.
CPE offers engineering, installation, system evaluation services and replacement parts for air filtration and dust collection equipment. Customers rely on CPE to help meet EPA and OSHA requirements regarding particulate matter and combustible dust across a diverse range of industries.
“We are pleased to have CP Environmental become part of Micronics,” said Micronics President and Chief Executive Officer Rick Weiler. “Combining CPE with SFM 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 service.”
“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.”
“CPE is excited to become part of Micronics and take advantage of the increased sales opportunities we believe this transaction will provide,” said CP Environmental President Tim Carr. “Being part of a larger, highly reputable company that shares our commitment to customer service and quality is a benefit to our customers. CPE can now address a much broader array of filtration requests.”
About CP Environmental
Headquartered in suburban Chicago, IL, CP Environmental is a full-service engineering and design firm that offers a wide range of industrial air pollution equipment and service/refurbishment capabilities to the air filtration market, specifically the baghouse industry. The Company is a leading supplier of industrial air replacement parts and filters, maintenance, inspection services, and new equipment products. The combination of these products and services enhances CPE’s customers’ productivity, profitability and reduces the amount of equipment downtime at their facilities.
About Vance Street Capital
Vance Street Capital is a Los Angeles-based private equity firm that makes control investments in companies with enterprise values up to $200 million. Preferred industries include general industrial, aerospace & defense, and medical components and devices. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com
About Micronics Inc.
Founded in 1983, Micronics is an expert in liquid / solid separation. A worldwide authority on Filter Cloth, critical to optimizing any Filter Press application, Micronics helps customers reduce costs, increase efficiency and extend the life of their filtration equipment. Headquartered in Portsmouth, New Hampshire with operations in the UK, Micronics provides Filter Presses, standard or custom, and supports them with service, parts, filter cloths, filter plates, and refurbishment at competitive prices. Micronics is a portfolio company of Vance Street Capital, a Los Angeles-based private equity firm. For more information please visit www.MicronicsInc.com.
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