Sperry Mitchell Advises Millrock Technology on its Sale to Artemis
New York, NY (September 30, 2025) – Millrock Technology, Inc. (“Millrock”) of Kingston, NY, has been acquired by Artemis Capital Partners (“Artemis”). Sperry, Mitchell & Company served as exclusive financial advisor to Millrock. Seward & Kissel served as Millrock’s legal representative for the transaction.
Millrock Technology (www.millrocktech.com) is a leader in designing and manufacturing advanced lyophilization instrumentation and freeze-drying process development tools that support applications in drug development, diagnostics, and advanced therapeutics. 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. Millrock specializes in laboratory, pilot, and production-scale lyophilizers, with advanced process control technologies designed to optimize efficiency, compliance, and scalability. For over two decades, Millrock has been recognized as a trusted partner to pharmaceutical, biotech, and diagnostics customers worldwide.
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 operating 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.
Artemis (www.artemislp.com) is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable a healthier, safer, more connected, productive, and equitable world.
Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries.
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