ARTEMIS ANNOUNCES ACQUISITION OF MILLROCK TECHNOLOGY

KINGSTON, N.Y., Sept. 30, 2025 /PRNewswire/ -- Artemis Capital Partners ("Artemis"), a Boston-based private equity firm focused exclusively on partnering with differentiated Industrial Tech companies serving the life sciences, aerospace, and defense markets, announced today the acquisition of Millrock Technology Inc. ("Millrock" or "the Company"), an innovator of lyophilization instrumentation and ancillary products.

For over two decades, Millrock has been recognized as a trusted partner to pharmaceutical, biotech, and diagnostics customers worldwide. The Company designs and manufactures advanced lyophilization instrumentation and freeze drying process development tools that support applications in diagnostics, personalized medicine, advanced therapeutics, and drug development. With its proprietary control systems and engineering expertise, Millrock empowers customers to preserve the quality and efficacy of their products, accelerating delivery of life-changing therapies to patients worldwide.

Bill Pezza, Operating Partner at Artemis, stated: "The partnership between Millrock and Artemis is a natural fit. Our experience in scaling industrial technology companies serving life sciences, paired with Millrock's best-in-class lyophilization solutions, creates an exciting opportunity to expand capabilities and deliver even greater value to customers developing the next generation of biologics, vaccines, and diagnostics."

T.N. Thompson, Founder of Millrock, added: "We chose Artemis as our partner because of their deep understanding of our markets and technology and because of their commitment to supporting companies that improve global health outcomes. Together, we look forward to expanding our scale and technical capabilities while staying true to our mission of helping life science innovators bring critical therapies to patients."

Cheryl Xiang, Vice President at Artemis, commented: "Millrock exemplifies the type of transformative company we seek to partner with—lyophilization is increasingly vital to ensuring the safety, stability, and accessibility of advanced therapies, and Millrock's products directly contribute to making our world a healthier place. We are excited to partner with Millrock to accelerate its growth and innovation while preserving its customer-first culture."

Under Artemis' ownership, Millrock will continue to operate as an independent company from its facility in Kingston, NY, serving a global customer base. Artemis is committed to investing in Millrock's organization, technical expertise, and operations to ensure long-term growth and impact across the life sciences value chain.

Morgan, Lewis & Bockius served as legal advisor to Artemis. Baird served as strategic advisor to Artemis. For Millrock, Sperry, Mitchell & Company served as financial advisor and Seward & Kissel LLP served as legal advisor.

About Millrock Technology

Millrock Technology Inc. is an innovator of freeze-drying (lyophilization) instrumentation and process development solutions for the pharmaceutical, biotech, and diagnostics industries. Millrock specializes in laboratory, pilot, and production-scale lyophilizers, with advanced process control technologies designed to optimize efficiency, compliance, and scalability. To learn more, please visit www.millrocktech.com.

About Artemis

Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable a healthier, safer, more connected, and productive world. For more information on Artemis, please visit www.artemislp.com.

SOURCE Artemis