Daikin Industries Limited have acquired US Filter Manufacturer, Flanders Holdings LLC.
The acquisition has been valued at US$430 million and is expected to be complete by April 2016.
According to Daikin’s press release, Flanders Holdings LLC are the leading air filter manufacturers, specialising in products with high functionality that are used in industrial cleanrooms, as well as products that are used for both commercial and residential use.
The acquisition marks the first business expansion that Daikin have undertaken outside of their subsidiaries, AAF and Nippon Muki Co., Ltd. The press release states that “with this acquisition, the Flanders business will be integrated into AAF and enable AAF to leverage its global sales network to market the cleanroom equipment and high-end filter products that are the strength of Flanders.”
The press release also states that the merging of Flanders into AAF will result in improvement to air environments in homes, buildings and factories, as well as addressing global environmental issues and meeting the increasing worldwide need for the creation of comfortable air environments.
The press release can be read in full here.