Donaldson Company, Inc. (NYSE:DCI) today announced that its wholly-owned
subsidiary, Donaldson Europe BVBA – UAE Branch, has entered into an
agreement to acquire Northern Technical L.L.C., a manufacturer of gas
turbine inlet air filtration systems and replacement filters. The
acquisition is expected to close in September, subject to normal closing
conditions. Other terms of the acquisition were not disclosed.
Northern Technical, based in Abu Dhabi, United Arab Emirates, is the
Middle East's largest manufacturer of gas turbine air filter intake
systems. Northern Technical CY14 sales are forecast to be approximately
$22 million. After completion of this acquisition, Donaldson will manage
its Europe, Middle East, and Africa Gas Turbine business from its Abu
Dhabi branch office.
"The acquisition of Northern Technical reinforces our commitment to
growth with a company that is an excellent strategic fit with our
existing Gas Turbine Products business," said Tod Carpenter, Donaldson's
Chief Operating Officer. "The acquisition will allow us to leverage
Northern Technical's strong Customer relationships in the Middle East,
the largest gas turbine market in the world, with significant continued
growth expected over the next decade. The acquisition will also broaden
our product depth as Northern Technical has unique technology that we
will leverage into new, first-fit air intake offerings for our
Customers. Northern Technical also has a full line of air filters which
we can add to our global product portfolio."
About Donaldson Company
Donaldson is a leading worldwide provider of filtration systems that
improve people's lives, enhance our Customers' equipment performance,
and protect our environment. We are a technology-driven Company
committed to satisfying our Customers' needs for filtration solutions
through innovative research and development, application expertise, and
global presence. Our approximately 12,300 employees contribute to the
Company's success by supporting our Customers at our more than 140
sales, manufacturing, and distribution locations around the world.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices,
and our shares trade on the NYSE under the symbol DCI. Additional
information is available at www.donaldson.com.
Donaldson Company, Inc.
Rich Sheffer, 952-887-3753
Aug 14, 2014