Benford Capital Partners (“Benford Capital” or “BCP”) is pleased to announce the sale of Droplet Measurement Technologies, LLC (“Droplet” or the “Company”) to Envea, Inc. (“Envea”), a Carlyle-owned provider of environmental products and services. Droplet is the leading provider of high-precision analytical instrumentation for measurement of atmospheric and environmental parameters. The transaction closed on October 31^st, 2024.

Founded in 1987, Droplet designs, manufactures, and services single-particle instrumentation used to support researchers’ understanding of climate, meteorology, and health.  Droplet maintains an expansive portfolio of products used to measure and characterize airborne particles, including cloud particles, bioaerosols, black carbon, and fog and precipitation. The Company sells to key customers across national research agencies, universities and research institutions, and private industries.

Droplet CEO, Dr. Jeff Throckmorton, who will continue to lead the Company, said, “Benford Capital was a value-added partner in supporting Droplet’s growth over the last seven years. The BCP team invested in the Company through an expanded leadership team, new product development, new channels of distribution, and add-on acquisitions. We appreciated the partnership approach of BCP and all of the success achieved together.”

Edward Benford, Managing Director at Benford Capital, stated “The BCP team enjoyed working with Jeff, Jason Klotsche, and the rest of the Droplet team. Droplet is a leading provider of instrumentation for mission-critical environmental applications. We are proud of the work that went into scaling Droplet and believe the Company is well positioned to grow and succeed in the years ahead with Envea.”

EC Mergers & Acquisitions served as the exclusive financial advisor to Droplet Measurement; Ice Miller served as legal counsel. Learn more about Droplet at www.dropletmeasurement.com.

About Benford Capital Partners

Founded in 2004, Benford Capital is a Chicago-based private equity firm focused on buying and building leading lower middle market companies in partnership with founders and management. Since inception, Benford Capital has acquired more than 50 companies and currently owns 16 platform companies. BCP’s industry areas of focus include industrial technology, food and consumer products, agricultural products and services, and B2B e-commerce. BCP is currently investing from its $200 million Fund II and has approximately $400 million of total capital under management. For more information, please visit www.benfordcapital.com.

For additional information about this transaction, please contact Edward Benford (ed@benfordcapital.com) or Cormac Kelly (cormac@benfordcapital.com).