PMSI provides CDD for Foresight's £2.0m investment into fume cupboard manufacturer Total Containment Solutions.
Foresight Group LLP, a leading private equity and infrastructure investment manager, announced a further £2 million follow-on investment into Envair Technology (“the Company”), a provider of containment solutions that facilitates faster and more flexible drug R&D and manufacture across the globe. The investment will support the acquisition of Total Containment Solutions (“TCS”), a designer and manufacturer of high specification pharmaceutical fume cupboards, increasing the Company’s product portfolio as it supports customers in the pharmaceutical, bio-pharmaceutical, healthcare and industrial markets.
Commenting on the investment, Gary Bagshaw, Envair Limited Managing Director, said:
“It is just one year since Envair combined with ONFAB to create Envair Technology. In that time, we have continued to grow and thrive, whilst maintaining our levels of customer service and fully seeing the benefits associated with the integration of the two businesses. This acquisition further widens our product offering and flexibility to respond to client needs and as such we welcome Dave McCabe and the TCS team to Envair Technology and look forward to accelerating our combined growth story.“
Dave McCabe, TCS Managing Director, added:
“TCS has gone from strength to strength over 15 very successful years and we’ve established ourselves as the market leader in the fume cupboard market with blue chip customers across pharmaceutical, commercial and education sectors. Joining Envair Technology will bring significant benefits for all shareholders as we combine our expertise across the laboratory containment market. The combination of TCS and Envair Technology will allow us to expand to wider markets and serve customers even better. Throughout the investment process it has been a pleasure to work with the Foresight and the Envair Technology teams.”
PMSI worked closely with both Foresight and TCS to provide CDD transaction support.