Donaldson To Acquire Middle Eastern Manufacturer
Donaldson Company, Inc., a filtration system manufacturer, said Wednesday that it reached an agreement to acquire an Abu Dhabi-based air filter manufacturer, further expanding its global reach into the Middle East.
Donaldson, which is headquartered in Bloomington, announced that it expected to close its acquisition of Northern Technical, the Middle East’s largest manufacturer of gas turbine air filter intake systems, in September.
Additional terms of the acquisition were not disclosed. Rich Sheffer, a Donaldson spokesman, told Twin Cities Business Thursday that no planned headcount changes were in the works. With 12,300 employees and more than 140 locations worldwide, Donaldson is one of the world’s largest providers of air filter products. Donaldson is among Minnesota’s 25 largest public companies based on revenue, which totaled more than $2.4 billion for the fiscal year that ended in July 2013.
In a statement, Donaldson Chief Operating Officer Tod Carpenter said the acquisition will allow the company to leverage Northern Technical’s customer relationships in the Middle East, considered the world’s largest gas turbine market.
Carpenter said the move will also allow Donaldson to use Northern Technical’s technology to produce new air intake products while adding Northern Technical’s line of air filters to Donaldson’s existing global product portfolio.
Once the deal is complete, Donaldson’s regional headquarters for operations in Europe, Africa and the Middle East will move from Belgium to Abu Dhabi. The acquisition, Sheffer told Twin Cities Business, played into the company’s goal of growing outside the United States.
This transaction would also follow by about a year the $10 million expansion of testing laboratories at Donaldson’s Bloomington headquarters.