Modular Devices Adds Flow Cleanrooms and Technical Air Products

O2 Investment Partners Acquires Majority Stake in Modular Devices, Inc.

January 20, 2022

Medical Devices

O2 Investment Partners has partnered with Modular Devices, Inc., a provider of mobile modular medical imaging labs and cleanroom solutions, to support the company's growth and M&A strategy; terms were not disclosed. Maranon Capital provided financial support for the transaction; Modular Devices will serve as a platform investment for O2's Fund III to expand product and service offerings across healthcare, pharmaceutical, and biotechnology markets.

Modular Devices Acquires Cardiac Services Mobile

June 5, 2022

Healthcare Services

Modular Devices Acquisition, LLC has acquired Cardiac Services Mobile, Inc., a Nashville-based provider of mobile cardiac catheterization and peripheral vascular labs, expanding Modular Devices' interim lab capacity by about 33%. The deal, executed by Modular Devices (a portfolio company of O2 Investment Partners), strengthens the combined company's position as the largest provider of temporary mobile cath, EP and CT labs in the U.S. and supports planned upgrades and geographic/service expansion.

Modular Devices Acquires Interim Diagnostic Imaging

February 16, 2023

Healthcare Services

Modular Devices, a portfolio company of O2 Investment Partners, announced a partnership to bring Interim Diagnostic Imaging (IDI) into its platform, significantly expanding Modular's fleet of mobile medical imaging labs. The deal strengthens Modular's service offering across CT, MRI and other imaging modalities and supports the platform's growth and diversification strategy.

Cleanova Acquires Airflotek and TES-Clean Air Systems

January 8, 2026

Manufacturing

Cleanova, the PX3 Partners-backed industrial filtration platform, has acquired U.S.-based Airflotek and TES-Clean Air Systems and will consolidate them into Cleanova to enter ultra-clean controlled-environment markets. The bolt-ons add custom fan filter unit (FFU), HEPA/ULPA filtration, and cleanroom distribution capabilities to support semiconductor, biotechnology/pharmaceutical, and data-center customers.

Cleanova Acquires Airflotek and TES-Clean Air Systems

January 8, 2026

Manufacturing

Cleanova, a PX3-backed industrial filtration platform based in Chattanooga, Tennessee, has acquired U.S.-based Airflotek and TES-Clean Air Systems and will consolidate them into a single business within Cleanova. The acquisitions add custom fan filter units (FFUs), HEPA/ULPA filtration and cleanroom expertise, expanding Cleanova's capabilities into ultra-clean controlled environments serving semiconductors, pharmaceuticals, biotech and high-performance data center markets.

Cleanova (PX3) Acquires Airflotek and TES-Clean Air Systems

January 8, 2026

Manufacturing

Cleanova, the PX3 Partners‑owned industrial filtration platform, has acquired U.S. cleanroom specialists Airflotek and TES‑Clean Air Systems and will consolidate them into a single business within Cleanova. The add‑on acquisitions expand Cleanova’s capabilities into ultra‑clean, controlled‑environment filtration for semiconductor manufacturing, biotechnology, pharmaceuticals, data centers and high‑performance computing.