Ludwigsburg-based filter manufacturer Mann+Hummel has signed a deal to acquire the filtration business of Affina International for an undisclosed sum.
Affina is best known in Europe for its Wix and Filtron brands. Allthough terms of the deal have not been made public, a statement from Mann+Hummel noted that the acquisition will add around US $1bn to its top line as well as enabling the German firm to gain a strong hold on the commercial filters market.
Commenting on the deal, Alfred Weber, President and Chief Executive Officer of Mann+Hummel, said: “This acquisition fits perfectly with our corporate strategy. It will enable us to grow globally and provide ample opportunity for growth and development for all of our people. Mann+Hummel’s and Affinia’s filtration business will serve customers better through a seamless, comprehensive portfolio ranging from passenger to heavy duty and industrial to hydraulic filtration solutions thanks to a combined 150 years of filtration expertise.”
The acquisition includes all of Affina’s markets apart from South Africa. Completion of the deal is subject to regulatory approval.