Deal Details

Micronics Is Acquired by Cleanova

Industrial

Micronics, a portfolio company of Vance Street, sale to Cleanova, a portfolio company of PX3

Summary

Micronics Engineered Filtration Group (“Micronics” or the “Company”), a portfolio company of Vance Street Capital (“Vance Street”), has been acquired by Cleanova, a portfolio company of PX3 Partners ("PX3"). Vance Street reinvested significantly in Cleanova as part of this transaction. Terms of the transaction were not disclosed.

The combined company, which will retain Cleanova as its name, will have comprehensive operations across a broad spectrum of applications and end markets, further enhancing the ability to deliver innovative, advanced filtration solutions to customers globally.

Baird served as financial advisor to Micronics and Vance Street on this transaction.

About

Micronics is a leading global provider of aftermarket and OEM filtration equipment and consumables. The Company delivers customers an unparalleled combination of filter media, advanced filtration equipment, filtration services and aftermarket parts for diverse industrial markets. Operating under a family of leading brands, Micronics’ solutions help customers operate reliable processes, improve efficiencies, decrease operating costs and contribute to environmental protection globally. Micronics is headquartered in Chattanooga, Tennessee.

Vance Street is a Los Angeles-based private equity firm focused on investing in highly engineered solutions businesses in the industrial technology, medical, life science, aerospace and defense sectors. The firm partners with management teams and family owners to accelerate revenue and profitability growth, improve operations and acquire complementary strategic assets. Vance Street is headquartered in Los Angeles, California.

Cleanova is a leading filtration manufacturer of consumable, mission-critical and engineered industrial filtration systems that support cleaner, more sustainable industrial operations. Backed by PX3, Cleanova brings together leading brands and technical capabilities to address growing environmental and regulatory demands. Cleanova is headquartered in Newbury, United Kingdom.

PX3 is a pan-European private equity firm and is headquartered in London, United Kingdom.

Industrial

Micronics, a portfolio company of Vance Street, sale to Cleanova, a portfolio company of PX3