October 27, 2023 – Blue River Financial Group has advised Medical Technology Associates, a leader in controlled environment testing and certification, and portfolio company of PNC Riverarch Capital, on the recent acquisition of Air Filtration Management. AFM is MTA’s second acquisition in the Northeast market and expands MTA’s capabilities in the testing and certification of all types of critical controlled environments.
Medical Technology Associates, LLC is a national leader in healthcare compliance testing, inspection, certification, calibration, and equipment, with nearly 40 years of industry experience. As a single source provider, MTA delivers a wide range of services and equipment for Medical Gas, Environmental Monitoring, Calibration and Controlled Environment services. Branch offices are in FL, TX, AZ, KS, IN and PA with technicians across the U.S.
PNC Riverarch Capital is a Pittsburgh, PA based middle-market private equity firm, founded in 2011. Riverarch is the private equity affiliate of The PNC Financial Services Group, Inc., one of the largest diversified financial institutions in the United States. PNC Riverarch invests in market-leading companies where it can partner with management to accelerate growth and has completed more than 100 platform and add-on acquisitions to date.
Founded in 1988 by Mike Wieder, Air Filtration Management, Inc is an independent NEBB Certified firm providing critical controlled environment, cleanroom and laboratory fume hood operational performance evaluation and validation services. AFM is headquartered in Bethlehem, Pennsylvania.
“Together, we will broaden our service offerings, expand our footprint, and leverage technology to drive customer success,” said Val Marks, MTA CEO.
Mike Wieder, AFM founder, said “Our relationship with Medical Technology Associates is perfect for our organization both culturally and professionally. It will provide enhanced value to both our employees and clients. We are excited about the opportunities that MTA brings to AFM, and together to the industry.”
“Blue River is extremely thankful to have partnered with MTA and PNC on their acquisition strategy. It’s been exciting to have been a part of bringing these two medical gas organizations together. The strategic partnership will allow each organization to leverage each other’s service offerings, geographic footprint, and best practices” said Christopher Caron, Managing Director with Blue River.
Sara Clevenger, Blue River’s Principal, stated “We’re grateful for the partnership with Medical Technology Associates and thrilled to be a part of their acquisitive growth story. It’s rewarding for our teams to see positive outcomes like these on both sides of the transaction, and we couldn’t be happier for the opportunities ahead of the MTA / AFM teams.”
Contact
Sara Clevenger
Principal
sclevenger@goblueriver.com
About Blue River
Blue River Financial Group is a middle market merger and acquisition advisory firm. We assist corporations, private equity groups and individuals in the sale and acquisition of businesses, and have completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.
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