Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 6:39 AM
Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.
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Slide #65. CLARCOR Inc. — Air Filtration Business from G.E. Power and Water
Acquirer:
CLARCOR Inc. (CLC)
Acquiree:
Air Filtration Business from G.E. Power and Water
Details:
CLARCOR Inc. (NYSE:CLC) announced that it has entered into an agreement to acquire the Air Filtration business of General Electric Company's Power and Water division for approximately $265 million, subject to contractually agreed adjustments. With over 700 employees around the world and trailing twelve month annual revenues of approximately $230 million, the business is a leading supplier of air filtration systems and filters used in gas turbine applications, as well as industrial air filtration products and membranes. Headquartered in Overland Park, Kansas and with manufacturing operations in Missouri, the UK and China, the business will continue to supply gas turbine air inlet filtration systems and filters to GE, which has the world's largest installed base of natural gas turbines, under a multi-year supply agreement. The transaction is expected to close by the end of 2013.
Clarcor conducts business in two principal industry segments: Engine/Mobile Filtration and Industrial/Environmental Filtration. Co.'s Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications, including trucks, agricultural machinery, construction and mining equipment, power generation, marine, automobiles, transit buses, locomotives and other industrial and specialty applications. Co.'s Industrial/Environmental Filtration segment manufactures and sells filtration products used in industrial and commercial processes, and in buildings and infrastructures of various types.
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