The acquisition of CP Environmental helps Micronics accomplish its goal of building an industry-leading service capability to meet the various dry filtration needs of its customers, including new equipment, replacement parts, repair and inspection services.
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.”