Air filter company Camfil Farr has acquired IF Luftfilter AB (IF) and at the same time concluded an agreement in principle to acquire its German co-operation partner within gas turbine and power plant filters, Kaefer-Raco Engineering GmbH.
IF and Kaefer-Raco have combined annual sales of SEK 460m and a total of approximately 200 employees. The total purchase price for the two companies amounts to approximately SEK 230m.
The acquisition of IF means that both Camfil Farr's and IF's Nordic customers will be offered a broader product range and a strengthened sales and service organisation. Camfil Farr, which has grown strongly in North America and Asia in recent years, will consolidate its Nordic home base as a result of this acquisition.
Kaefer-Raco and Camfil Farr's subsidiary Camfil Industrifilter in Borås have co-operated within areas such as development and production since 2002. The creation of the new division Camfil Farr Power Systems is a natural result of this co-operation.
Camfil Farr's CEO, Alan O'Connell, comments: "For Camfil Farr, these two acquisitions will strengthen our product range in the industrial filter market. Both acquisitions have a clear industry logic which in addition to enhancing the product range will provide improved proximity to customers and a larger base for continued research and product development."
The Camfil Farr Group, with its head office in Trosa, Sweden, is the world leader in air filters and is represented by subsidiaries and agents in Europe, North America and Asia. Camfil Farr has annual sales in excess of SEK 3 billion and 2,700 employees, of whom 370 in Sweden.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 703 99 62 39
Johan Ryrberg, Deputy CEO and CFO Camfil Farr Group, +46 705 38 76 70