Pfingsten Sells Full Spectrum Group to CBRE
Chicago, IL – November 9, 2022 – Pfingsten announces the sale of Full Spectrum Group (“Full Spectrum”) to CBRE Group (NYSE:CBRE), the world’s largest commercial real estate service and investment firm based on 2021 revenue.
Full Spectrum, headquartered in Laguna Hills, CA, 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 over 100 field engineers across the U.S., Full Spectrum offers a full range of service contracts, preventative maintenance programs, calibration and validation, repair services, parts and reconditioned instruments to a variety of end markets, including life sciences, health services, forensics, chemical and industrial. ?
“The Full Spectrum team and Pfingsten established a clear vision from the beginning outlining additional service offerings, key end markets and infrastructure investments necessary to create a leading service company,” said John Martin, Co-Founder and Executive Vice President at Full Spectrum Group. “Together, we executed on the plan in under four years by nearly tripling our field service team and completing add-on investments that brought new service capabilities to our customers.”
“Our strategy was to build upon Full Spectrum’s core service capabilities to create the leading brand- agnostic service provider for laboratory instrumentation by rapidly growing the field service team and focusing on add-on investments to enhance and strengthen service capabilities nationwide,” said Phillip Bronsteatter, Pfingsten Managing Director. “Since our initial investment in 2019, the company completed four acquisitions that broadened Full Spectrum’s service capabilities, geographic reach and customer base.”
“Pfingsten’s guidance and desire to invest in talent, information systems and add-on investments allowed our business to scale rapidly on a national level while improving customer experience and service levels,” said Full Spectrum’s CEO, Bob McLeese.?“Their operational resources and expertise were critical in getting Full Spectrum to where we are today.”
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The transaction closed on November 9, 2022. Lincoln International acted as the exclusive financial advisor to Full Spectrum and Katten Muchin Rosenman served as legal counsel.
About Pfingsten
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in India and China, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. 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 pfingsten.com.
Instrumentation service and repair specialist
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