Founded in 1963, Partmo has annual sales of approximately US$15 million and employs around 250 people at its main production site in Bucaramanga, Colombia.
“The acquisition of Partmo will support our strategy of continued growth in our engine filter business in South America,” said Guillermo Briseño, Donaldson’s vice president for Latin America. “Partmo is a well-recognized brand of replacement filters in Colombia and other countries in the northern portion of South America. We look forward to continuing and strengthening the long-term relationships they have built with their distributors and customers.”
“The Partmo business directly aligns with the priorities of our strategic growth plan by growing our replacement filter and liquid businesses, while further expanding our international business. Partmo’s factory in Colombia will be Donaldson’s first production site for engine liquid filters in South America,” said Tod Carpenter, Donaldson’s president and CEO.
The acquisition of Partmo is subject to customary regulatory approval in Colombia, and is expected to close during the second quarter of Donaldson’s fiscal year 2016.
Donaldson will report Partmo revenue in its Engine Products Segment.