ASGARD backed Angstrom Technology has acquired Specific Environments Limited

NEW YORK, Feb. 10, 2022 /PRNewswire/ — ASGARD Partners & Co. (“ASGARD”) announced today that its portfolio company, Angstrom Technology (“Angstrom” or the “Company”), an industry leader in cleanroom design and production, has acquired UK-based Specific Environments Limited (“SEL”).  The acquisition will further expand the Company’s geographic coverage in Europe and add specialized design and engineering capabilities to the organization.  The acquisition of SEL represents the third acquisition Angstrom has completed in the last six months.

SEL has over 40 years of experience and a proven track record as a specialized design and engineering firm catering to Life Sciences, Cell & Gene Therapy, Biotech, and Pharmaceutical end markets.  SEL is a trusted partner for many blue-chip clients such as Lonza Group, Glaxo Smith Kline, Pfizer, Abbott, and the UK NHS (National Health Service). The company supports all aspects of design, build, compliance, and maintenance of cleanrooms, containment, and other complex controlled environments for its customers.  SEL is headquartered in High Wycombe with an additional Office in York.  Peter Saunders, Managing Director of SEL, will continue to lead the UK-based business alongside the existing management team.  For more information, please visit https://www.specific-environments.co.uk/

Karan Rai, Managing Partner of ASGARD, said, “The SEL acquisition adds a significant in-house design and engineering competence to our existing platform.  We are committed to building a highly customer centric and full-service global company in this space.  This is our third add-on acquisition to the Angstrom platform in the past six months and is just the continuation of a long-term growth strategy focused on consolidating the cleanroom and controlled environment industry.  We are excited to welcome the talented SEL team into the Angstrom family.”

“This is another big milestone for Angstrom,” said Matt Isard, CEO of Angstrom.  “SEL’s strong design and engineering capabilities will give Angstrom a more integrated commercial approach and allow us to work even more collaboratively with our customers to drive value.  This acquisition accelerates the next stage of growth for the organization all while retaining our core values and commitment to quality, service, and innovation.”

Peter Saunders, Managing Director of SEL, said, “We are thrilled to be partnering with Angstrom and ASGARD and continuing our momentum following this exceptional year of growth.  We believe this partnership will help us meet the growing demand from our customers and enable us to work with larger organizations in delivering fully customizable and turnkey cleanrooms.  I believe the combined company is poised for significant growth as it continues to expand its global footprint.”

“With this acquisition, Angstrom adds tremendous design and engineering capabilities along with a highly experienced team,” commented Robert Beall, Partner at ASGARD.  “SEL is a leader in the cleanroom industry and serves the world’s most sophisticated pharma/biotech clients.  We believe our ability to attract industry leading talent and pedigree to Angstrom is further validating our thesis.  We look forward to partnering with and supporting the company’s management team.”

Terms of the transaction were not disclosed.  EvolutionCBS acted as financial advisor to SEL.  McGuireWoods London LLP and Chapman & 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.

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SOURCE ASGARD Partners & Co.