Transaction Enables Micronics to Capitalize on Global Growth Opportunities. Management Team Retains Significant Ownership Stake
Portsmouth, NH – April 1, 2013 – Micronics Inc., a global provider of aftermarket filtration products and OEM custom filter presses, announced today that it has been acquired by Vance Street Capital LLC, a Los Angeles-based private equity firm. Micronics’ management team will also have a significant ownership stake in the business. Terms of the transaction were not disclosed.
“This transaction represents a very positive development for our company, our employees and our customers,” said Micronics Chief Executive Officer Barry Hibble. “With a strong partner by our side, we have the financial resources and expertise we need to accelerate our growth by increasing our manufacturing capabilities and expanding our footprint outside of the United States and UK.”
“For 30 years, Micronics has played a critical role in water reclamation for a great number of industrial applications,” said Jake Blumenthal, principal at Vance Street Capital. “We look forward to working with Micronics and its talented management team as the company enters its next phase of growth and brings its high-quality filter cloth and filter presses to customers worldwide.”
About Vance Street Capital
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 precision industrial manufacturing, aerospace and defense, medical components and devices, and business services. 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 Inc.
Founded in 1983, Micronics engineers and manufacturers filter presses of all sizes, filter press plates, and filter press cloth used for liquid / solid separation throughout varied industrial applications including mining, municipal waste water, food processing, industrial water reclamation, and hydraulic fracturing. Headquartered in Portsmouth, New Hampshire, Micronics also has locations in the UK and is the only distributor for Ishigaki Co. Ltd. in North and South America. For more information please visit www.MicronicsInc.com.
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