Bloomington-based Donaldson Buys Italian Biotech Firm for $46M
Donaldson, which markets and sells air filters, says the buy will help expand its presence in other life science markets, including food and beverage, pharma, and biotech.
“This acquisition is an important step on our journey towards strengthening our presence in the life sciences market,” said Tod Carpenter, Donaldson’s chairman, president, and CEO, in a news release.
How did an Italian firm wind up on a Bloomington company’s radar? It started back in December 2020, when Donaldson hired David Wood as VP of the company’s life sciences business development division. Wood was added to the team, in part, to help expand Donaldson’s presence in life science markets.
Founded in 2002, Solaris is headquartered in Porto Mantovano, Italy, and has U.S. operations based in Berkeley, California. Solaris designs and manufactures bioprocessing equipment, such as bioreactors, fermenters, and filtration systems used in a number of industries.
There are no plans to bring any Italian-based employees stateside, according to Donaldson. Integration activities will instead focus on educating Donaldson’s sales force on the Solaris product lines, and vice versa.
Solaris’s 2021 revenue is projected to surpass $5 million, according to Donaldson.