Exyte Strengthens its Equipment and Engineering Services Business by Acquiring Critical Process Systems Group
- Acquisition of US-based Critical Process Systems (CPS) Group from Wynnchurch Capital
- Manufacturing and design business of CPS to complement Exyte offerings
- Growth acceleration through complementary regional footprint and synergies in semiconductor and life science markets
- Completion of transaction expected in the fourth quarter of 2021
Stuttgart, 24 August 2021 – Exyte Group (“Exyte”) and Wynnchurch Capital announced today that they had reached an agreement for an all-share acquisition of Critical Process Systems Group (“CPS”) by Exyte, a global leader in the design, engineering, and delivery of high-tech facilities. The completion of the acquisition is subject to regulatory approvals and is expected to close in the fourth quarter of 2021.
CPS is a group of manufacturing and design companies with $150 million in annual sales in 2020. With more than 400 employees, the group provides innovative product solutions to clients in the semiconductor, life science, high-purity chemical processing, gas systems, and wastewater industries. CPS is predominantly active in North America with exports to Europe and Asia.
Dr. Wolfgang Büchele, CEO of Exyte, stated: “CPS is a perfect fit for Exyte. The specialized knowledge and technical capabilities of the team are extremely impressive. We are looking forward to expanding our offering in the services and process equipment area. Our strengthened global footprint will allow us to further enhance our service to existing and new customers in our semiconductor and biopharma and life sciences businesses. The acquisition will serve as a platform for future bolt-on acquisitions.”
“We are thrilled to become part of Exyte,” said Dmitry Shashkov, CEO of CPS. “CPS and Exyte serve the same industries and share the same high standards of technical expertise and project execution. Together, we will be able to fulfill the needs of our customers in the US even better and now also all over the world. Exyte and CPS are both well-recognized players in the market, and we are convinced that the combination of the two will allow us to further accelerate our growth.”
Brian Crumbaugh, partner at Wynnchurch, stated: “Through Wynnchurch’s partnership with management, CPS has accomplished a number of milestones since 2018. These include investments in additional engineering and sales resources, developing a refined commercial strategy to drive new business wins, establishing policy deployment tools to create a culture of continuous improvement, recruiting and promoting several new members of the leadership team, and acquiring Nuance Systems. These initiatives have resulted in significant growth in revenue and EBITDA at each of CPS’s business units. Exyte is the ideal partner and new shareholder for CPS to continue its growth path in the upcoming years.”
Exyte is a global leader in the design, engineering, and delivery of facilities for high-tech industries. With a history of more than 100 years, the company has developed unique expertise in controlled and regulated environments. Exyte has a truly global footprint, serving the most technically demanding clients in markets such as semiconductors, batteries, pharmaceuticals, biotechnology, and data centers. The company offers a full range of services, from consulting to the managing of turnkey solutions – delivered to the highest quality and safety standards. Solving the most complex challenges, Exyte forges trusted, long-lasting relationships with its clients. In 2020, Exyte generated sales of EUR 4.1 billion with over 4,900 highly experienced and motivated employees. The company is ideally positioned to further strengthen its market leadership with its broad industry insight and its exceptional talents.
Critical Process Systems Group, headquartered in Boise, Idaho, is a leading provider of mission-critical solutions for highly demanding industries and applications. The company provides a broad range of products & services including corrosive fume exhaust ducts and air flow control devices, high purity process utility modules, biopharmaceutical processing equipment, and liquid, chemical, and gas storage, blending, and delivery control products, as well as process and mechanical engineering services and project management.
Wynnchurch Capital, L.P., headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California, New York, and an affiliate in Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $4.2 billion of committed capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings.
Vice President Corporate Communications
& Investor Relations
Tel.: +49 711 8804 1489
Critical Process Systems Group
President and CEO
Tel.: +1 978-691-2737