RSM advises on US sale of leading cleanroom provider

RSM has advised leading cleanroom provider, Connect 2 Cleanrooms (‘C2C’), on its sale to Angstrom Technology (‘Angstrom’), a US company backed by New York-based private equity house ASGARD Partners & Co (‘ASGARD’).

C2C was established in 2002 and operates internationally from its head office in Lancaster, with additional offices situated in London and Geldermalsen in the Netherlands. Founded by Joe and Lizzie Govier, the company provides integrated cleanroom services including design and build, consumables, training and validation.

Angstrom is a US based company offering services in cleanroom design, manufacturing, installation and repair.

ASGARD acquired Angstrom in November 2020 and the acquisition of C2C is Angstrom’s first UK based acquisition. C2C will further complement the combined group enhancing its presence within the UK and European markets and strengthening its position as one of the leaders in cleanroom design and installation globally. The C2C management team will remain in place to continue driving future growth as part of the wider group.

The RSM deal team was led by corporate finance partners Helen Brocklebank and John Daly, with support from Rhys Jennings, Ben Wood, Alexander Harris, James Morris and Nicola Clough.

A team from Napthens led by corporate partner Richard Robinson, assisted by corporate associate Charlotte Walsh provided legal advice on the deal.

Helen Brocklebank, corporate finance partner at RSM UK, said: ‘Rapid growth in advanced manufacturing across a broad range of sectors from pharmaceuticals to renewable technology has accelerated demand for cleanroom technology and services globally. The transaction has brought together two closely aligned businesses to become the global cleanroom solution provider of choice for multinational clients.’

Joe Govier, Co-founder of C2C, commented: ‘We are delighted we chose RSM and Napthens as our advisors to help us with finding the right partner for C2C. Both Lizzie and I would like to extend our thanks to the teams for working tirelessly and providing invaluable advice whilst steering us through the process. This transaction and combination of businesses has enabled Angstrom and C2C to fulfil a joint vision to create a global controlled environment solutions platform, and we are excited for the future of the group and teams within.’

Richard Robinson, corporate partner at Napthens, said: ‘Today’s completion is a landmark moment for both C2C and Angstrom, and represents a significant step for the global cleanroom solutions sector, bringing together two leading players. We are proud to have played a central role in this transaction for long standing clients Joe and Lizzie Govier and look forward to seeing the partnership prosper in the coming years.’