Transformational acquisition adds substantial scale, geographic reach, and additional vertically integrated capabilities, to better serve clients on both sides of the Atlantic
ASGARD Partners & Co. (“ASGARD”), a New York based private equity firm, announced today that its portfolio company, Angstrom Technology (“Angstrom” or the “Company”), an industry leader in cleanroom design and production, has acquired Connect 2 Cleanrooms Limited (“C2C”). The acquisition will expand the Company’s geographic coverage outside of North America and bolster its capabilities and service offering.
Established in 2002, C2C operates internationally from its head office in Lancaster, UK, with additional offices in London and Utrecht in the Netherlands. C2C is a trusted provider of highly engineered and mission critical cleanrooms for Healthcare, Pharma, and Industrial clients. C2C’s vertically integrated and comprehensive offering spans engineering, design & build, and testing & validation services. Additionally, C2C offers cleanroom consumables and supplies through its fully integrated e-commerce platform www.cleanroomshop.com. Joe Govier, Founder and CEO of Connect 2 Cleanrooms, will continue to lead the UK-based business alongside the existing management team. For more information, please visit www.connect2cleanrooms.com.
Karan Rai, Managing Partner of ASGARD, said, “The C2C acquisition adds a strong European presence to the already robust North American presence for Angstrom. The acquisition also gives Angstrom a deeper penetration into some of the world’s fastest growing end markets such as Pharma, Biotech, and Cell & Gene Therapy. This transaction is just the beginning of a long-term growth strategy focused on consolidating the cleanroom and controlled environment industry. We think the two companies are a great strategic and cultural fit and are excited to welcome the highly talented C2C team into the Angstrom family.”
“This acquisition will accelerate our international expansion and bring our existing and future customers a much higher degree of expertise and service from a larger and more capable platform,” said Matt Isard, CEO of Angstrom. “We are focused on building the most competent and customer-focused company in the industry and this is an important step in that direction. I am excited to welcome Joe Govier and the rest of the C2C team to Angstrom and look forward to integrating best practices from C2C into Angstrom and vice-versa.”
Robert Beall, Partner of ASGARD, said “Connect 2 Cleanrooms is a recognized leader in the rapidly growing critical environment industry across the UK and Europe and an ideal complement to the Angstrom business. Now with a global platform, we believe the Company is strongly positioned for continued growth as organizations in a variety of sectors seek to protect critical processes and meet regulatory or compliance objectives. We look forward to partnering with the Angstrom/C2C leadership team as it continues to broaden its customer base, pursue strategic acquisitions, and enhance its service offerings and capabilities.”
Joe Govier, added, “It was important for us to join forces with a company that holds the same values, integrity, and vision for our business and employees. We are confident that this transaction will enable Angstrom and C2C to build upon the strong technical foundation that exists today and fulfill a joint-mission of creating a global controlled environment solutions platform, and we are excited for the future of the group and teams within.”
Terms of the transaction were not disclosed. Plante & Moran PLLC and BDO acted as buyside advisors to ASGARD. McGuireWoods London LLP and Chapman and Cutler LLP served as counsel to ASGARD.
About Angstrom Technology
Headquartered in Grand Rapids, Michigan, Angstrom Technology is a market leader in cleanroom production across the U.S., Canada, and Mexico. Since 1989, Angstrom has provided cleanroom build, design, and maintenance services to some of the most respected companies in the world. Angstrom’s passion is to provide its customers with the most effective and efficient designs, superior quality, and outstanding service.
For more information, please visit www.angstromtechnology.com.
About ASGARD Partners & Co.
ASGARD Partners & Co. is a private equity firm focused on investing in leading manufacturing, distribution, and services businesses in partnership with proven management teams. ASGARD seeks investment opportunities in businesses with defensible value propositions and strong growth prospects that can also benefit from the support of its investing and operating experience, access to capital, and strategic guidance. Sectors of particular focus include defense, government services, aerospace, industrial or business services, and specialty manufacturing.
For more information, please visit https://asgardpartners.com.
SOURCE ASGARD Partners & Co.