Stephens Group Acquires Astro Pak

LITTLE ROCK, Ark.--(BUSINESS WIRE)--The Stephens Group, LLC (“Stephens Group”) is pleased to announce that it has acquired Astro Pak LLC (“Astro Pak” or the “Company”), a leading provider of high purity and precision cleaning services for critical and highly regulated industries.

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 & mechanical polishing, sanitization & biofilm removal, oxygen cleaning, and other precision cleaning services for a wide variety of critical systems and components. The Company offers services to such industries as pharmaceutical, biotechnology, food & beverage, semiconductor, aerospace & defense, and other industrial markets. Its 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.

“Astro Pak is the clear leader in its space, serving industries where micron-level cleanliness and associated compliance are mission-critical,” said Jack Nadal, Managing Director at Stephens Group. “The Company’s diversified and recurring revenue model, proprietary formulations, technical capabilities, and exceptional culture make it an ideal fit for our firm. We look forward to working closely with the Astro Pak team to support their next phase of growth while maintaining their strong culture and legacy of excellence.” Witt Stephens, Jr., CEO of Stephens Group added, “Astro Pak became a market leader through years of excellent, dedicated service to its customers. We are excited to partner with Astro Pak and its people to continue that legacy and strengthen it even further in the future.”

Ken Carroll, President of Astro Pak, commented on the transaction: “When evaluating potential investors, Stephens Group stood out for their deep understanding of our business and target markets, coupled with a founder-led culture. Their extensive human capital resources, cultural alignment, long-term perspective, and permanent capital base make them the ideal partner to help us achieve our vision. With their support, we will continue delivering exceptional value to our customers while preserving the incredible culture that has defined Astro Pak.”

The acquisition of Astro Pak reinforces Stephens Group’s focus on investing in businesses with market leadership, recurring and compliance-driven revenue models, and strong cultural alignment. This investment represents another example of Stephens Group’s mission to create lasting value through long-term, collaborative relationships with exceptional companies.

Houlihan Lokey acted as financial advisor to Astro Pak.

About Astro Pak
Astro Pak (https://astropak.com/) is a leading provider of high purity and precision cleaning services, serving critical industries such as pharmaceutical, biotechnology, food & beverage, semiconductor, aerospace & defense, and more. Founded in 1959, Astro Pak is committed to ensuring the highest standards of cleanliness, compliance, and operational excellence for its customers.

About The Stephens Group, LLC
The Stephens Group, LLC (https://www.stephensgroup.com) 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 over $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 successfully achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial products and services, specialty distribution, and vertical software.