Donaldson Co Inc has entered into a binding agreement to acquire an 88% stake in BOFA International Ltd, a UK manufacturer of fume extraction systems, for approximately £79 million.
Headquartered in Poole, BOFA sells fume extraction systems to OEM customers, distributors and end users, and has recurring sales of replacement filters. The company’s fume extraction systems are used in laser, electronics, printing, 3D printing and dental applications. Founded in 1987, BOFA employs around 250 people and is expecting sales of approximately US$40 million in its current fiscal year.
“We are excited to leverage BOFA’s high-quality products and strong customer relationships to expand into new industrial air filtration markets and applications,” said Jeff Spethmann, senior vice president of Donaldson’s Industrial Products segment. “With Donaldson’s expertise in filtration technologies and global manufacturing and distribution footprint, we plan to further accelerate BOFA’s global growth and add additional filtration technology to BOFA’s products.”
“BOFA’s fume collection business will be an excellent complement to our global portfolio of filtration businesses,” said Tod Carpenter, chairman, president and chief executive officer. “The acquisition of BOFA aligns well with our strategy by growing our industrial air filtration business and diversifying our company through technology-led filtration solutions.”