Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

February 21, 2014

Lydall buys UK filtration business for $83M

Flickr user David Jones Incinerators similar to this one use Andrew Filtration products to help curb their emissions.

Manchester’s Lydall Inc. said it has acquired the industrial filtration division of United Kingdom’s Altham Industries for $83 million.

Andrew Filtration makes non-woven felt filtration materials and filter bags that are used primarily by industrial businesses to filter out toxic emissions to meet environmental regulations.

The deal, which Lydall will pay for with cash on hand and borrowings, brings Lydall 500 new employees in facilities in the United States, U.K. and China.

Andrews had $127 million in revenue last year, Lydall said. The purchase price works out to approximately six times EBITDA.

Lydall said it plans to achieve annual cost savings of $4 million by 2016.

The deal will be accretive to Lydall’s 2014 earnings, and will result in $1 million of transaction expenses for the first quarter, the company said.

Read more

Lydall cooperating with German antitrust probe

Sign up for Enews

Most Recent

Most Recent

Related Content

Thumbnail Manchester manufacturer Lydall to be acquired by NY firm
Thumbnail Greater Hartford company stocks shed 41% of value since U.S. coronavirus outbreak
CCSU aims to lift business-school profile
CT-based manufacturers announce coronavirus-related layoffs, shutdowns

0 Comments

Order a PDF