Filtration Group is to acquire Porex Corporation from Los Angeles-based investment firm Aurora Capital Group.
Filtration Group is owned by Chicago-based Madison Capital Partners.
Financial terms of the transaction have not been disclosed.
The combined company will have a robust portfolio of products and technologies that serve a diverse range of end markets, including the food and beverage, healthcare, industrial, mining, micro-electronics, consumer, water and energy industries. Following the transaction close, the combined company will serve customers in over 65 countries.
Founded in 1961 and based in Fairburn, Georgia, Porex specialises in the development and manufacturing of porous polymer products. Porex experienced strong growth during its partnership with Aurora Capital, strengthening its position through a number of strategic initiatives and streamlining growth through innovation.
Filtration Group is a developer, designer and manufacturer of liquid, air and fluid filtration solutions serving industry leaders across the world.
"Since pioneering the industry over 50 years ago, our mission has been to provide our customers with a wide range of advanced, high performance, porous materials," says William Midgette, president and chief executive officer of Porex. "I am extremely proud of our 750 employees and their dedication to developing and manufacturing the products recognised as the standard of performance in porous polymer solutions. Together with Filtration Group, we look forward to further accelerating our growth and success.
"We would also like to thank Aurora, which has been a source of invaluable support and dedication to our team during the past few years. With Aurora's engagement, investment and partnership, we were able to elevate our performance to a new level."
Robert W Baird acted as financial advisor and Gibson, Dunn & Crutcher acted as legal advisor to Porex. Paul, Hastings, Janofsky & Walker acted as legal advisor to Filtration Group.
