Thompson Street Capital Partners (TSCP) has partnered with management to acquire Eden Prairie, Minnesota-based Savillex Corporation (Savillex), a designer and manufacturer of advanced fluoropolymer products (PFA) for the geochemistry, environmental, semiconductor, chemical, aerospace and pharmaceutical industries. Terms of the transaction were not disclosed. This acquisition is the first of TSCP’s new fund (its fifth), a $1.15 billion fund, and adds to TSCP’s experience in life sciences and engineering products. This is also TSCP’s sixth acquisition in the state of Minnesota.
Savillex’s name, contracts, location, employees, and management team remains unchanged, and the senior team’s ownership in Savillex also remains. TSCP plans to invest further in the Savillex team and facility. There will be no need to redo agreements.
PFA is one of the world’s most durable, inert and clean substances, and the PFA parts that Savillex (www.savillex.com) manufactures are mission critical. They are needed in an impressive array of applications from large molecule drug manufacturing to geochemical analysis. Savillex products range from Purillex PFA bottles to sample introduction systems used in mass spectrometry. These are used by some of the world’s largest companies, commercial labs and universities. Additionally, the Company offers highly specialized, custom-engineered solutions for its customers.
According to Matt Scherrer, Managing Director at TSCP, “Savillex is one of a few companies in the world with the capabilities and expertise required to produce PFA products. Savillex products are designed to meet the highest performance standards – which is of particular importance due to the expensive and/or hazardous liquids its products often handle.” Added Mr. Scherrer, “Savillex has long been dedicated to producing superior quality products for its highly specialized customer base. We look forward to being part of this fine company’s bright future.”
Terry Nagel, Savillex’s President described the new partnership with TSCP: “TSCP and Savillex were able to execute this investment quickly and efficiently, thanks in large part to TSCP’s trustworthiness and sophisticated approach. TSCP and Savillex share the same values, and our team is looking forward to shared growth strategies and a strong partnership. We like how TSCP conducts its business.”
KPMG Corporate Finance LLC and Fredrikson & Byron served as Savillex’s exclusive financial and legal advisers, respectively, and Sidley Austin was Thompson Street’s legal adviser.