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Andrew Industries sells its industrial filtration business to Lydall

Andrew Industries Ltd has sold six businesses within its Filtration division to Lydall Inc in an US$83 million cash deal.

The sale involves subsidiaries operating in the UK, USA and China that manufacture and supply nonwoven felt filtration media and filter bags used primarily in industrial air filtration applications. These products are sold under the brands Andrew Webron in Europe, Southern Felt in the US and China Felt Company in China.

The businesses employ 450 people and generated unaudited revenues of around US$127 million and EBITDA of approximately US$14 million for the 12 months ended 31 December 2013.

Lydall president and CEO Dale Barnhart said: “The acquisition of Andrew Filtration expands our global footprint, adds complementary and new technologies, as well as substantial scale that provides a platform for long-term growth, and better positions us to deliver meaningful shareholder value.”

With this acquisition, Lydall’s filtration and engineered materials segments are expected to contribute approximately 50% of Lydall’s consolidated revenue.

“I could not be more pleased to have Andrew’s industrial filtration business become a part of the Lydall family,” said Ted Andrew, Andrew Industries’ chairman. “I know Lydall, like Andrew Industries, prides itself on upholding the highest standards of commercial and technical integrity, innovation, and quality so the businesses fit extremely well together. I wish Lydall and all the employees working within the filtration business every success.”

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