Cleanova Holdco 3 Ltd. (Cleanova), a UK-based manufacturer of filtration products, is acquiring Micronics Engineered Filtration Group (Micronics), a U.S.-based manufacturer of filtration products. The company will fund the proposed transaction with about $630 million of debt and equity from Cleanova?s sponsor owner, PX3 Partners, which it will use for funding the acquisition of Micronics? equity, refinancing existing debt at Micronics and Cleanova, paying transaction fees and expenses, and adding cash to the balance sheet. We expect the transaction will close in midyear 2025. The proposed first lien credit facilities are comprised of a $75 million revolving credit facility (undrawn at close) and $630 million first-lien term-loan. We expect Cleanova will benefit from a stable demand profile and general customer
