Micronics Engineered Filtration Group, a portfolio company of Vance Street Capital specializing in aftermarket filtration consumables, has recently announced the acquisition of Solaft Filtration Solutions. Solaft, a global industrial filtration solutions provider, boasts in-house product design, research and development facilities, and manufacturing operations in Australia, Brazil, China, and India.
Established in 1983, Micronics serves a diverse customer base of around 3,000 clients spanning over 20 different end markets. These include mining, energy, chemical manufacturing, food and beverage, pharmaceuticals, and water/wastewater treatment. The acquisition of Solaft enhances Micronics' range of engineered filtration solutions and extends its global reach, particularly in industries such as aluminum, alumina, power generation, and steel.
Chris Cummins, President and CEO of Micronics, expressed enthusiasm about the acquisition, highlighting the successful existing partnership in North America and the anticipation of leveraging combined capabilities. The move is aimed at better serving the needs of industrial filtration customers, especially in sectors with stringent environmental and emissions control requirements.
Justin Gallagher, CEO of Solaft, echoed the sentiment, expressing excitement about joining forces with Micronics. Gallagher, set to become a Board Advisor at Micronics, emphasized the alignment of visions to provide industry-leading filtration solutions globally.
Nic Janneck, Partner at Vance Street, commended Micronics' transformation under their ownership, positioning the company as a key player in the global aftermarket filtration market. The partnership between Vance Street and Micronics is expected to continue fostering growth.
Yousaf Tahir, Vice President at Vance Street, emphasized the complementary nature of Solaft's capabilities, including product development and a vertically integrated supply chain, which will enhance Micronics' ability to serve customers worldwide.
Overall, the acquisition marks a strategic move for Micronics Engineered Filtration Group, expanding its global presence and strengthening its position in the competitive industrial filtration market.