Pfingsten announces its portfolio company, Full Spectrum Group, LLC (“FSG”) has acquired Cascade Thermal Solutions, Inc. (“Cascade”), a provider of repair and maintenance services for refrigeration, sterilization, incubation and thermal laboratory equipment, as well as a designer of and service provider for environmental rooms. Headquartered in El Cajon, California, Cascade serves customers in the biotechnology, pharmaceutical, technology, chemical, government, research, education and industrial markets.
“Cascade adds an exciting new refrigeration service offering to the FSG platform,” said Bob McLeese, President and CEO of FSG. “The combination provides customers access to a broader suite of repair and maintenance services to ensure equipment uptime within their labs.”
“FSG shares our vision of becoming the largest national multi-vendor laboratory service provider,” said Rom Smith, owner of Cascade. “FSG’s national footprint immediately accelerates our growth with expanded services in additional geographies.”
Cascade represents FSG’s second strategic acquisition since Pfingsten became the majority shareholder in February 2019. FSG is a national, multi-vendor service provider for laboratory instrumentation, offering a full array of service contracts, preventative maintenance programs, calibration services, instrument qualification and instrument repair services, as well as reconditioned instruments and parts.
The transaction closed on March 12, 2021. To learn more about FSG and Cascade, please visit www.fsaservice.com and www.cascade-ts.com.
About Pfingsten
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 144 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.
