Porvair Filtration Group has purchased the goodwill, business and trading assets of Keystone Filter, a division of Ceco Environmental Corp, in a cash deal.
Keystone, which had 2017 revenue of around US$4 million, designs and manufactures filter cartridges and housings for the food and beverage, drinking water, and chemical process markets in the US.
As part of the acquisition, Porvair has entered into a transition services agreement with Ceco to transfer the business to its plant in Ashland, Virginia, over the next few months.
Commenting on the acquisition, Ben Stocks, chief executive of Porvair plc, said: “The acquisition of Keystone increases our presence in the US, broadening our markets and providing a range of cross selling opportunities. Keystone brings sales expertise, distribution and a broad customer base for whom Porvair's wider product range will be attractive.”
Porvair will integrate Keystone into its Aerospace & Industrial division.