Bankrupt Azzur Group sells off cleanroom consulting business for $56m

Prominent cleanroom service provider Azzur Group has filed for bankruptcy in Delaware, US.

The USA Herald has reported that this is owing to over $100m in debt.

The group currently has two business units, Cleanrooms-on-Demand (COD), and Consulting.

The first is a cleanroom rental business, and the second provides consulting services to pharmaceutical companies with GxP environments.

Azzur invested heavily in its COD business following rapid market growth during and after COVID-19.

At this time, the company opened new rental cleanrooms in multiple states, such as North Carolina, Massachusetts, and California.

The company even made an important alliance with the company behind one of the COVID-19 vaccines, Moderna, in 2021.

However, the market has somewhat moved on from this period in time, the demands of this era over, and now the company is filing for bankruptcy.

Azzur has specifically filed for bankruptcy under a Chapter 11 filing. 

In this situation, a case filed under Chapter 11 of the US Bankruptcy Code is frequently referred to as a “reorganisation” bankruptcy. 

This means it allows the business to retain possession of its assets for this process.

Selling off the consulting business

At the beginning of March 2025, Azzur Group reached an agreement to sell its consulting business to a strategic acquirer, ELIQUENT Life Sciences, with the support of an investor, for $56m.

All Azzur Consulting employees and leadership are expected to transition to ELIQUENT, and the business will continue to operate in the ordinary course with no intended operational changes as a result of this acquisition.

Tim Dietlin, CEO of ELIQUENT, said: “The business and the team have an exceptional reputation. We are excited to continue investing in Azzur Consulting’s dedicated employees, broadening its capabilities and supporting its blue-chip client roster as part of our platform.”

“We extend our gratitude to our employees and customers for their continued trust throughout this process,” added Michael Khavinson, CEO of Azzur Group. “We believe that ELIQUENT is the right partner for our consulting business to continue delivering tangible results for clients and provide a runway for success for years to come. We are proud of all that Azzur Group and its employees have accomplished over the years.”

Beyond this sale

Owing to the specific type of bankruptcy Azzur has started, the company is still technically “in possession” of its assets.

As such, Azzur has managed to organise $23.5 million in debtor-in-possession (DIP) financing. Upon court approval, the new financing, combined with cash generated from the company’s ongoing operations, will increase liquidity and be used to support continued, uninterrupted business operations throughout the process.

With the consulting sale lined up, Azzur will now continue marketing the COD business as part of the Chapter 11 process.

Image: Azzur COD facility in San Diego

Image credit: Azzur Group

• Companies:
• Moderna Therapeutics
• Azzur Group
• ELIQUENT Life Sciences

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