Parker Divests Facet Filtration Biz
01 May 2018
Parker Hannifin Corp. has completed a transaction to divest its global Facet filtration business to the Filtration Group Corp., Joliet, Ill. The Facet filtration business includes part of Parker’s U.S. qualified aviation ground fuel filtration business acquired in the Clarcor merger, plus filtration products and technologies for other aviation fuel, marine, environmental and general applications.
The divestiture includes the global Facet filtration business locations in Stilwell and Tulsa, Okla; Paris, France; La Coruña, Spain; Torino, Italy; Pontypridd, UK; and Almere, the Netherlands; as well as an aviation fuel filtration testing lab in Greensboro, NC. The global Facet filtration business has annual revenues of approximately $60 million and approximately 260 team members.
The Filtration Group is a provider of filtration solutions that includes life science, process technologies, fluid and indoor air quality applications. The company recently expanded its industrial business with the acquisition of the Mahle Industrial Filtration group.
Parker said it will retain the rest of the Clarcor businesses and will continue to own the aviation ground fuel filtration business marketed under the Parker Velcon brand name. Terms of the transaction were not disclosed.
Parker had previously agreed to divest the global Facet filtration business under the Proposed Final Judgment filed by the U.S. Department of Justice (DOJ) in the U.S. District Court for the District of Delaware on December 18, 2017.
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