CHARLOTTE — Falfurrias Capital Partners, a Charlotte-based investment firm, has acquired air purification technology company Global Plasma Solutions, according to a filing with the Securities and Exchange Commission.
In a statement, Falfurrias announced it will hire Glenn Brinckman to replace Global Plasma co-founder Charles Waddell as CEO. Waddell will stay on as chief technology officer and continue to lead product development for the company.
Global Plasma was founded in 2008 and is headquartered in Savannah, Georgia. According to its website, the company specializes in needlepoint bi-polar cold plasma technology and has been granted 12 patents for its products, with several pending.
Ed McMahan, managing partner for Falfurrias, said it will help Global Plasma Solutions maximize its growth potential.
Falfurrias Capital
“The market for GPS filtration technology is expanding as building owners become more aware of indoor air quality issues and also seek energy efficiencies,” McMahan said in a statement. “Global Plasma Solutions is well positioned to benefit from these trends.”
The company’s patented needlepoint technology recreates naturally-occurring ions in buildings to kill bacteria and other pathogens, provide odor control and reduce airborne particles.
“We are delighted to have a new strategic partner with Falfurrias Capital’s operational resources and network, and Glenn’s business leadership and product management experience to help GPS write the next chapter of our success story,” Waddell said in a statement.
Brinckman graduated with both a bachelor’s and a master’s degree in mechanical engineering from Drexel University. He has over 20 years of experience in the industrial products industry and most recently served as general manager and product line leader at GE Industrial Solutions, according to his LinkedIn.
Falfurrias was founded in 2006 by former Bank of America executives Hugh McColl and Marc Oken. The firm invests in middle-market companies in high growth markets like financial technology and industrial automation and safety among others.
Falfurrias has acquired and scaled several successful companies, including Bojangles. The firm owned Bojangles between 2007 and 2011 during which it opened 126 new locations — an increase of 33 percent — until it was sold to Boston-based private equity firm Advent International.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
