PE-backed Angstrom Technology to buy Built 2 Spec

Angstrom Technology, which is backed by ASGARD, has agreed to acquire Grand Rapids, Michigan-based Built 2 Spec, a provider of design and build services for modular cleanrooms. No financial terms were disclosed. McGuireWoods LLP served as legal advisor to ASGARD on the deal.

PRESS RELEASE

NEW YORK, Sept. 30, 2021 /PRNewswire/ — ASGARD Partners & Co., LLC (“ASGARD”), a New York-based private equity firm, today announced that its portfolio company, Angstrom Technology (“Angstrom” or the “Company”), an industry leader in modular cleanroom production, has signed an agreement to acquire Built 2 Spec LLC (“Built 2 Spec”).

Founded in 1989, and headquartered in Grand Rapids, MI, Angstrom designs, builds, and services fully customizable modular cleanrooms for regulated industries and adjacent markets, including aerospace, defense, technology, semiconductors, pharmaceutical, automotive, healthcare, and industrial end markets. The Company completes fully customizable and turnkey projects that give customers a high level of control over airborne and surface particulates to manufacture, test, and assemble products in a safe and clean environment. This enhanced operating environment enables companies to manufacture products accurately, prevent the risk of product malfunction or failure, and guarantee customer satisfaction.

Built 2 Spec is a regional platform serving commercial and industrial clients through its design and build services for modular cleanrooms, with a strong presence on the West Coast. The acquisition broadens Angstrom’s geographic presence in North America and adds key customer accounts to Angstrom’s already robust blue chip client base.

Karan Rai, Managing Partner at ASGARD Partners & Co., said, “We are focused on building Angstrom into one of the largest and most customer-focused companies in this highly fragmented industry. This transaction is just the beginning of a long-term growth strategy focused on consolidating the modular cleanroom / controlled environment industry. With a strong presence in the United States, we anticipate adding more density in key markets both domestically and internationally through strategic add-on acquisitions.”

Matt Isard, President of Angstrom, said, “This acquisition will accelerate our West Coast expansion and bring our existing and future customers the know-how and service they deserve. I am also excited to welcome the Built 2 Spec talent to Angstrom Technology and look forward to integrating Built 2 Spec’s expertise throughout our organization.”
Terms of the transaction were not disclosed. McGuireWoods LLP served as legal advisors 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.