Technical Equipment Sales and Airflotek acquired by Cleanova
Exit Strategies Group recently served as M&A advisor to the owners of Airflotek and TES Clean Air Systems on their strategic sale to Cleanova, a PX3 portfolio company. Together Airflotek & TES manufacture and distribute custom fan filter units (“FFUs”) and other technologies for state-of-the-art cleanroom environments worldwide, serving industries with exceptionally stringent air-quality requirements, including semiconductor, pharmaceutical, and biotechnology manufacturing. Terms of the transaction were not disclosed.
Founded in 1993, Airflotek designs and manufactures custom FFUs and stocks a range of high-purity replacement filter media at its state-of-the-art assembly and warehouse facility in Georgia. Founded in 1986, TES-Clean Air Systems is the California-based exclusive distributor of Airflotek FFU products for the semiconductor equipment industry. TES brings decades of cleanroom and semiconductor application expertise, supporting a global customer base.
Alan Schlesinger, president and owner of Airflotek said, “TES and Airflotek were two separate, closely-held companies that belonged together. Exit Strategies helped us navigate the challenges of consolidating, presenting and selling TES and Airflotek together as one business. Airflotek’s Georgia team is excited about their future with Cleanova.”
Jim Harris, owner of California-based TES said, “Exit Strategies’ transaction process attracted several strong strategic and financial investors and ultimately helped us select a great value-added industrial filtration partner in Cleanova. Joining Cleanova is a good outcome for our team, our customers, our suppliers, and all of our stakeholders.”
Exit Strategies Group initiated this transaction and acted as exclusive M&A advisor to Airflotek and TES. This transaction demonstrates Exit Strategies Group’s strong commitment to providing sell-side M&A advisory and business valuation services to North American industrial technology, manufacturing and distribution companies. Since its founding in 2002, Exit Strategies has advised on over 200 M&A transactions.
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For information about Exit Strategies Group’s M&A advisory or business valuation services, please contact Roy Martinez at 707-781-8583 or jroymartinez@exitstrategiesgroup.com.
