London, 22nd July 2024

Cleanova, a clean tech, market-leading global manufacturer of industrial filtration systems, announces today the successful acquisition of Sidco Holdings LLC and its subsidiaries, Sidco Filter, LLC (“Sidco”) and Shawndra Products, Incorporated (“Shawndra”) (together, “Sidco Group”), a leading clean tech industrial filtration company based in the U.S. controlled by Fairchild Capital Partners.

• Strengthens Cleanova’s existing platform to serve customers globally.
• Enhances its aftermarket exposure and accelerates geographic expansion in the U.S., significantly enhancing Cleanova’s market position, brand recognition, and regional reach.
• Enlarges Cleanova’s industrial filter portfolio in general industrials, waste management, and life sciences.
• Highlights its commitment to growth, innovation and quality in industrial filtration.

About Sidco Group

Headquartered in New York State, Sidco manufactures aftermarket filter elements and Shawndra produces industrial filtration systems for original equipment manufacturers and aftermarket filter elements. Earlier this year, Sidco acquired Shawndra and became Sidco Group before being acquired by Cleanova. Both companies have established strong reputations for innovation, quality, and best-in-class customer service. Their mission and vision closely align with Cleanova's commitment to delivering industry-leading filtration solutions and prioritising customers in every decision.

Cleanova, a portfolio company of PX3 Partners, the London headquartered private equity firm, leverages innovative thinking and established technology to deliver cutting-edge filtration solutions. The acquisition of Sidco Group aligns with Cleanova’s vision to expand its global footprint and strengthen its presence in the industrial filtration sector. This accretive transaction:

1. Highlights Cleanova’s commitment to growth, continuous innovation and top-tier product quality.
2. Enhances its market position, distribution capabilities, and aftermarket exposure.
3. Broadens its U.S. presence and diversifies its product portfolio with new technologies for life science applications.

Asked what the transition process will look like, Javaid Riaz explained:

‍“As we move forward, we will focus on a smooth integration process to ensure that we maximise the benefits of this acquisition. I am confident that, together, we will achieve new heights and continue to drive our success in the US market and beyond. We are thrilled about the opportunities this new chapter brings. Our commitment to excellence and customer satisfaction remains unwavering, and we are confident that this acquisition will enhance our ability to serve our customers and accelerate our expansion in the U.S.”

Cleanova enlisted the support of Alvarez & Marsal as accounting and tax adviser; Aon as benefits, insurance, and pension adviser; Debevoise & Plimpton as tax structuring adviser; and Weil, Gotshal & Manges as legal adviser.

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