VANCE STREET CAPITAL COMPLETES FOURTH ADD-ON ACQUISITION FOR PORTFOLIO COMPANY MICRONICS FILTRATION IN LAST 10 MONTHS
Los Angeles – October 16, 2015 – Vance Street Capital LLC, a Los Angeles-based private equity firm, and Micronics Filtration Holdings, Inc. (“Micronics”), a global provider of wet and dry filtration aftermarket products, today announced the acquisition of United Process Control, Inc. (“UPC”). UPC is the fourth add-on acquisition for Micronics since December 2014. Terms of the transactions were not disclosed.
UPC is a full service provider of baghouse inspection, mechanical repair, bag change outs and aftermarket parts to customers in the power, steel, cement, chemical, and food industries across the United States. UPC will join forces with Micronics subsidiary C.P. Environmental (“CPE”), a leader in dry filtration service, maintenance, replacement bags and parts. “With the addition of UPC, Micronics Holdings has significantly grown its dry filtration business, increasing its ability to meet the service and aftermarket needs of its customers,” said Richard Crowell, Managing Partner at Vance Street Capital. “Working closely with portfolio companies such as Micronics to source, close and integrate strategic add-on acquisitions that allow our portfolio companies to accelerate their growth is central to our investment strategy.”
“The addition of UPC allows us to better meet our aftermarket customers’ needs for engineered and technically complex mechanical repairs to their existing dry filtration systems,” said Micronics President and CEO Rick Weiler. “This transaction also expands our presence on the East Coast and in the southern portion of the United States. Working together, I am confident we will be able to achieve significant growth while also providing our customers with outstanding service.”
About United Process Control, Inc.
Based in Hillsborough, New Jersey, UPC has been serving the dry filtration industry since 1986. Starting out initially as a filter bag reseller, UPC quickly expanded into the critical service and repair element of the business. UPC is a major service provider in a number of industries including power, steel, cement, chemical, and food with a significant presence in the eastern part of the United States.
About Vance Street Capital LLC
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 Filtration Holdings, Inc.
Micronics Filtration Holdings, Inc. is the parent company to Micronics Inc., Southern Filter Media, C.P. Environmental, AeroPulse, and now United Process Control. 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. In December 2014, Micronics entered the dry filtration industry with the acquisition of Southern Filter Media based in Hixson TN, a leading provider of value high quality filter bags for bag house OEMs. In March 2015, CPE was acquired, adding change-out, cleaning, inspection, maintenance, repair, and consulting services to its dry filtration offerings. In August 2015, Micronics acquired AeroPulse, a designer and manufacturer of bag houses and related equipment for a variety of attractive end markets. Micronics Filtration Holdings 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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