Freudenberg Filtration Technologies has acquired the US filter business Protect Plus Air Holding Inc from the private equity firm HKW.
Based in Hickory, North Carolina, Protect Plus Air produces air filters for residential buildings which are mainly sold through retailers. Founded in 2001, the company had revenues of US$118 million in 2020 and employs 940 people.
“With the acquisition of Protect Plus Air, we are expanding our portfolio of filtration solutions in the important North American market by adding the attractive, fast-growing field of residential building ventilation,” said Dr Mohsen Sohi, CEO of the Freudenberg Group. “Protect Plus Air is expanding and strengthening our already existing filtration portfolio for mobility and industrial applications worldwide.”
“Protect Plus Air is an outstanding fit for us,” said Dr Andreas Kreuter, CEO of Freudenberg Filtration Technologies. “The company’s highly customer-focused team has decisive factors in retail in its favour, with a strong brand portfolio, a competitive distribution network, and strong consulting expertise in commercial marketing.”
“In Freudenberg, we are glad to have found a new owner oriented to technology and value,” said Greg Schorr, CEO of Protect Plus Air.