Vance Street Capital portfolio company Fumex Air Filtration Systems has acquired Filtrabox from PAT Technology Systems, expanding its specialized air filtration platform across North America and Europe.
Filtrabox is owned by Montreal-based PAT Technology Systems and develops engineered purification solutions that protect employees, equipment and operating environments from airborne contaminants.
Fumex was founded in 1986 and is headquartered in Kennesaw, Georgia.
The company provides extraction and filtration systems used to capture hazardous materials directly at their source.
Applications include laser cutting for precision component manufacturing, 3D printing, soldering, plastic processing and other industrial and healthcare processes.
Combining Filtrabox with Fumex is intended to broaden the platform’s product capabilities and increase its geographic reach.
Management expects the companies’ combined engineering resources to support development of additional filtration products serving new and existing customers across multiple end markets.
Filtrabox’s management team will remain in place following completion and is reinvesting a significant portion of its transaction proceeds in the combined company.
The acquisition represents an additional step in Vance Street’s strategy of building Fumex into a larger provider of specialized air filtration systems.
Fidus Capital provided debt financing for the transaction, while Winston Taylor served as legal adviser to Vance Street.
KEY QUOTES:
“On behalf of the entire Fumex team, we couldn’t be more excited to welcome the Filtrabox team to the Fumex family. This partnership will allow us to develop and provide innovative air filtration solutions serving application-specific needs of our global customer base.”
Kevin East, CEO of Fumex
“Filtrabox is an important step in our strategy to build a leading provider of specialized air filtration solutions. The combination broadens Fumex’s product offering and geographic reach, creating a strong foundation for continued growth.”
Grady Miller, Partner at Vance Street Capital
“The Filtrabox team has built an impressive business, and we are grateful that they decided to partner with us. Partnering with entrepreneur-owned businesses like Filtrabox in sectors where we have experience, like filtration, is a great representation of Vance Street’s strategy.”
Yousaf Tahir, Principal at Vance Street Capital
