Arlington Capital Partners to acquire Molecular Products Group
Molecular Products Group (MPG) and Business Growth Fund (BGF) have announced the sale of the business to Washington DC-based private equity firm Arlington Capital Partners.
Based in Harlow in Essex, UK, MPG develops advanced chemistry-based products for the healthcare, defence and industrial markets.
It specialises in manufacturing of chemical technologies that treat breathable gases. With its two primary manufacturing facilities located in Harlow and in Boulder at Colorado in US, it serves clients worldwide.
MPG was majority owned by the McKernan family, which established the company in 1973. Since 1995 it has been run by Ian and Andrew McKernan.
After completion of this acquisition, the current president of MPG US Troy Rhudy will take charge from Ian McKernan and Andrew McKernan and run the new group.
MPG chairman Ian McKernan said: “We are rightly proud of Molecular Products achievements in becoming a recognised global market leader in life critical air technology.
“The time is now right for the company’s talented team, under the leadership of Troy Rhudy, to take the business forward. The backing of Arlington Capital will enable the company to deliver on the many exciting growth opportunities ahead.”
This strategic sale is executed at a crucial time when the company is developing several new products after review of options and sale process by a team under Paul Teuten of Duff & Phelps, the global valuations and corporate finance advisor.
Arlington Capital managing partner Peter Manos said: “We are excited to be partnering with CEO Troy Rhudy and his management team at Molecular Products to expand the company’s unique position in the development of advanced chemistry-based applications for the healthcare and defense markets, which are key verticals for Arlington.
“Molecular Products continues Arlington’s long track record of investing in industry leading companies with technically differentiated and proven products in the market.”
BGF’s investment in September 2014 helped MPG to move into its new facility in Harlow, invest in new plant and equipment in both the UK and US and speed-up its global expansion.
Image: Arlington Capital Partners acquires Molecular Products Group. Photo courtesy Molecular Products Group.