Lancashire-based fume cupboard manufacturers Total Containment Solutions (TCS) has agreed an acquisition for £2 million ($2.6m)
As part of their continuing expansion, Envair Technology has announced the acquisition of Lancashire-based fume cupboard manufacturers Total Containment Solutions (TCS) in a deal worth £2 million ($2.6m). The funding, through private equity managers Foresight, takes the total investment in Envair Technology to £8 million ($10.5m).
The growth delivered to date by existing group companies ONFAB and Envair Limited has provided the platform for this next stage of the group's ambition to become the leading global clean air containment company. Envair Technology now offers an expanded product portfolio to clients in the healthcare, pharmaceutical and laboratory sectors, facilitating faster and more agile drug R&D and manufacture across the globe.
Founded in 2004 and with a similar market-leading reputation for quality engineering and service excellence, TCS shares a common business culture with its new sister companies.
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."