Pfingsten Partners has sold Full Spectrum Group to CBRE Group

Full Spectrum Group

Full Spectrum Group, headquartered in Laguna Hills, California, is a provider of highly specialized maintenance and repair services for critical laboratory assets, including high-end liquid and gas chromatography, mass spectroscopy and thermal equipment. With 20 locations and more than 100 field engineers across the United States, Full Spectrum offers a full range of service contracts, preventative maintenance programs, calibration and validation, repair services, parts and reconditioned instruments to life sciences, health services, forensics, chemical and industrial end markets.

The Deal

Lincoln International acted as the exclusive financial advisor to Full Spectrum, providing guidance to the company throughout Pfingsten Partners’ hold period and the sale to CBRE Group, a Fortune 500 company and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). This included providing insights to the company on the market landscape, valuation and evaluating inbound interest from interested buyers. Lincoln was able to leverage its deep industry knowledge of the lab services market to help support a successful transaction.

This acquisition gives CBRE a new and enhanced technical capability that complements its existing global integrated laboratory solutions capabilities for occupier clients in the fast-growing research and laboratory equipment sector. Specifically, CBRE will now be able to self-deliver highly specialized maintenance and repair services for handling some of the most critical laboratory assets, including high-end liquid and gas chromatography, mass spectroscopy and thermal equipment.

Our Perspective

Tony Crisman, Managing Director in Lincoln’s Healthcare Group, commented, “The increased utilization of outsourced maintenance, repair, calibration and support services by analytical and clinical labs has created an exciting growth area for investors. In addition to the organic and acquired growth opportunities, strategic buyers exist for the ultimate exit.”

Cynthya Goulet, Managing Director in Lincoln’s Healthcare Group, added, “Understanding the still fragmented landscape, white space available in the outsourced laboratory maintenance services market is critical to ensuring an optimal outcome. It was a pleasure to support Pfingsten and the Full Spectrum team throughout their ownership and as they navigated a sale to a Fortune 500 company of the size and caliber of CBRE.”

Pfingsten

Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, and representative offices in India and China, 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 160 manufacturing, distribution and business services companies. For more information, please visit www.pfingsten.com.

Share: