Houlihan Lokey Advises Astro Pak

Houlihan Lokey is pleased to announce that Astro Pak has been acquired by The Stephens Group. The transaction closed on January 31, 2025.

Founded in 1959, Astro Pak has built an industry-leading reputation as the go-to partner for customers requiring the highest standards of cleanliness, compliance, efficiency, and operational integrity. The company provides a complete suite of on-site, shop, and cleanroom services such as passivation, derouging, electropolishing and mechanical polishing, sanitization and biofilm removal, oxygen cleaning, and other precision cleaning services for a wide variety of critical systems and components. The company offers services to pharmaceutical, biotechnology, food and beverage, semiconductor, aerospace and defense, and other industrial markets. Astro Pak’s services leverage decades of proprietary formulations and technical experience to deliver the most effective high-purity and precision cleaning techniques. These processes increase equipment longevity, reduce asset downtime, and ensure procedural compliance.

The Stephens Group is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With more than $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in more than 50 companies, targeting investments in industries across the U.S., including industrial products and services, specialty distribution, and vertical software.

Houlihan Lokey served as the exclusive financial advisor to Astro Pak and assisted in marketing, structuring, and negotiating the transaction on their behalf. This transaction exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the testing, inspection, certification, and compliance sector, as well as Houlihan Lokey’s expertise in advising family-owned businesses through ownership transitions.

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