Exyte strengthens its equipment and engineering services business by acquiring Critical Process Systems Group
- Acquisition of US-based Critical Process Systems (CPS) Group from Wynnchurch Capital
- Manufacturing and design business of CPS to complement Exyte offerings
- Growth acceleration through complementary regional footprint and synergies in semiconductor and life science markets
- Completion of transaction expected in the fourth quarter of 2021
Stuttgart, 24 August 2021 – Exyte Group (“Exyte”) and Wynnchurch Capital announced today that they had reached an agreement for an all-share acquisition of Critical Process Systems Group (“CPS”) by Exyte, a global leader in the design, engineering, and delivery of high-tech facilities. The completion of the acquisition is subject to regulatory approvals and is expected to close in the fourth quarter of 2021.
CPS is a group of manufacturing and design companies with $150 million in annual sales in 2020. With more than 400 employees, the group provides innovative product solutions to clients in the semiconductor, life science, high-purity chemical processing, gas systems, and wastewater industries. CPS is pre-dominantly active in North America with exports to Europe and Asia.
Dr. Wolfgang Büchele, CEO of Exyte, stated: “CPS is a perfect fit for Exyte. The specialized knowledge and technical capabilities of the team are extremely impressive. We are looking forward to expanding our offering in the services and process equipment area. Our strengthened global footprint will allow us to further enhance our service to existing and new customers in our semiconductor and biopharma and life sciences businesses. The acquisition will serve as a platform for future bolt-on acquisitions.”
“We are thrilled to become part of Exyte,” said Dmitry Shashkov, CEO of CPS. “CPS and Exyte serve the same industries and share the same high standards of technical expertise and project execution. Together, we will be able to fulfill the needs of our customers in the US even better and now also all over the world. Exyte and CPS are both well-recognized players in the market, and we are convinced that the combination of the two will allow us to further accelerate our growth.”
Brian Crumbaugh, partner at Wynnchurch, stated: “Through Wynnchurch’s partnership with management, CPS has accomplished a number of milestones since 2018. These include investments in additional engineering and sales resources, developing a refined commercial strategy to drive new business wins, establishing policy deployment tools to create a culture of continuous improvement, recruiting and promoting several new members of the leadership team, and acquiring Nuance Systems. These initiatives have resulted in significant growth in revenue and EBITDA at each of CPS’s business units. Exyte is the ideal partner and new shareholder for CPS to continue its growth path in the upcoming years.”