#United States #Chattanooga #Vance Street #Micronics #Cleanova

Vance Street Capital's Strategic Sale of Micronics Engineered Filtration Group

In a significant move within the filtration market, Vance Street Capital has officially announced the sale of Micronics Engineered Filtration Group to Cleanova, a company backed by the pan-European private equity firm, PX3 Partners. This transaction highlights Vance Street's strategic vision and its commitment to fostering growth and innovation in the industry.

Founded in 1983, Micronics has established itself as a global leader in aftermarket and OEM filtration solutions. The company employs over 1,100 professionals and caters to a diverse client base across various sectors including mining, power generation, food and beverage, and pharmaceuticals. They provide a robust portfolio of filtration equipment and consumables that are vital to these industries.

Vance Street first acquired Micronics in 2013, embarking on a journey to amplify its growth and operational efficiency. Over the years, they executed four successful add-on acquisitions, including well-known entities such as National Filter Media and Action Filtration. In 2022, a significant investment through their continuation fund, EV1, facilitated further growth initiatives, which ultimately increased Micronics' EBITDA exponentially.

Nic Janneck, Partner at Vance Street, remarked on the significance of this journey, stating, “The Micronics story epitomizes Vance Street’s approach. We identified an opportunity to enhance a small, founder-owned business into an industry powerhouse by enriching its operational framework and leadership.” Under the guidance of CEO Chris Cummins, Micronics has seen transformational growth, positioning itself as a critical player in the Americas filtration sector.

As part of this transaction, Cummins will step into the role of Chief Executive Officer of the newly consolidated company, which will operate under the Cleanova name. This strategic union will leverage the strengths of both entities—Micronics' established air filtration expertise and Cleanova's capabilities in liquid filtration—resulting in a comprehensive global filtration platform. The combination not only strengthens their market position but aligns both teams’ objectives toward delivering sustainable filtration solutions.

The merger capitalizes on the geographic advantages of both firms, as Micronics holds a strong presence in North America while Cleanova is recognized across the EMEA region. This synergy is expected to foster innovation and meet the evolving needs of a diverse customer base committed to environmental sustainability.

The transaction is projected to close by the second quarter of 2025, with no financial details disclosed. However, this move marks a significant milestone for Vance Street's continuation fund, showcasing their ability to execute strategic divestitures while delivering substantial returns on investment.

As Vance Street Capital continues to broaden its portfolio in engineered solutions, the collaboration with Cleanova promises to yield new opportunities and advancements, ultimately enhancing the industry's approach to environmental protection and operational efficiency.

Through this strategic sale, both Vance Street and Micronics' leadership reaffirms their commitment to sustainability and customer satisfaction, ensuring that they remain at the forefront of industrial filtration solutions, ultimately fostering a cleaner, safer world for future generations.

For further information, visit Vance Street Capital and Micronics.