Cleanova Expands with Micronics Acquisition
Deal News | Mar 07, 2025 | Ropes & Gray
In a significant move within the industrial filtration sector, Ropes & Gray has guided Park Square Capital in the acquisition of Micronics Engineered Filtration Group by its portfolio company Cleanova. This strategic acquisition positions the combined entity as one of the largest independent industrial filtration enterprises globally, boasting a staggering enterprise valuation of $1.3 billion. Ropes & Gray's team, spearheaded by private equity partner Dan Oates and further strengthened by associates and partners in asset management and tax, played a pivotal role in navigating this complex transaction.
Sectors
- Industrial Filtration
- Private Equity
- Legal Advisory
Geography
- Global – The transaction creates one of the largest independent industrial filtration businesses worldwide, indicating a global industry impact.
- United States – Ropes & Gray is a major US-based law firm, suggesting significant involvement and implications within the US market.
Industry
- Industrial Filtration – The acquisition relates to companies specializing in industrial filtration solutions, showcasing a transformative deal within this specific sector.
- Private Equity – Park Square Capital is a leading private credit investor, indicating the involvement of the private equity industry in the acquisition.
- Legal Advisory – Ropes & Gray's involvement as a legal advisor highlights the legal consultancy industry's role in facilitating mergers and acquisitions.
Financials
- $1.3 billion – The enterprise value of the combined Cleanova and Micronics entity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ropes & Gray | Legal Advisor | Company | Advised Park Square Capital and Cleanova on the acquisition. |
| Park Square Capital | Private Credit Investor | Company | Ownership of Cleanova and involved in the acquisition strategy. |
| Cleanova | Portfolio Company/Acquirer | Company | A portfolio company of Park Square Capital that acquired Micronics. |
| Micronics Engineered Filtration Group | Target Company | Company | Acquired by Cleanova to create a global industrial filtration leader. |
| Dan Oates | Lead Legal Partner | Person | Private equity partner at Ropes & Gray leading the advisory team. |
| Cormac McGrady | Associate | Person | Associate at Ropes & Gray. |
| Josh Nicholson | Associate | Person | Associate at Ropes & Gray. |
| Eve Ellis | Asset Management Partner | Person | Asset management partner at Ropes & Gray. |
| Chris Agnoli | Tax Partner | Person | Tax partner at Ropes & Gray. |
| Elaine Murphy | Tax Partner | Person | Tax partner at Ropes & Gray. |
| Omar Asfar | Associate | Person | Associate at Ropes & Gray. |