GRAND RAPIDS — New York City-based private equity firm ASGARD Partners & Co. has acquired a controlling interest in Angstrom Technology, a Grand Rapids company that designs, builds and maintains modular cleanrooms for clients in North America.
Angstrom Technology’s management team will continue to lead the company. Terms of the deal were undisclosed.
“We look forward to partnering with ASGARD as we embark on an exciting new chapter of our story,” Angstrom President Matt Isard said in an announcement on the deal. “This investment will help Angstrom continue to deliver innovative cleanroom solutions, further build out our partner ecosystem, and explore strategic acquisitions to accelerate our growth.”
Cleanrooms allow customers a greater ability to control airborne and surface particulates when manufacturing and testing products. Angstrom’s modular and customizable cleanrooms have been used in aerospace, defense, automotive and health care sectors, to name a few.
M&A firm Charter Capital Partners in Grand Rapids represented Angstrom Technology in the transaction. Dickinson Wright PLLC served as legal advisor to Angstrom while McGuireWoods LLP in Richmond, Va., was legal advisor to ASGARD Partners.
“We are excited to partner with Angstrom's management team, which has an outstanding track record of delivering high quality cleanroom solutions to its customers,” said Karan Rai, managing partner at ASGARD Partners. “The company’s reputation for quality and customer service is a testament to its culture of excellence.”
