Mahle Group is to sell its industrial filtration activities to the Filtration Group Corporation, headquartered in Chicago.
Both parties have agreed not to disclose the purchase price for the transaction, which is subject to approval by anti-trust authorities.
Mahle’s industrial filtration business segment employs around 900 people worldwide, of which 410 work in Öhringen (Baden-Württemberg/Germany).
“In Filtration Group, we are pleased to have found a buyer that, thanks to its expertise and size, is in a position to give the industrial filtration business a boost”, said Mahle chairman and CEO, Wolf-Henning Scheider.
Last autumn, Mahle announced it would withdraw from the segment.
Industrial filtration products, which are needed in many areas, such as industrial installations as well as food and beverage production, have very little in common with the core business of Mahle, which focuses primarily on the automotive industry.
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Filtration Group, an affiliate of Madison Industries, serves a customers with offerings spanning life science, process technologies, as well as fluid and environmental air applications. Filtration Group supplies its customers from 80 facilities in 20 countries.
“Mahle’s industrial filtration business will greatly expand Filtration Group’s product portfolio and customer base,” Filtration Group CEO, Steve Felice.
The other 370 employees at the Öhringen location in Baden-Württemberg/Germany, who work for Mahle’s automotive 2/2 Filtration and Engine Peripherals business unit, are unaffected by the transaction.