New Delhi, March 03, 2018: Porvair Filtration Group, has today 1st March, acquired Keystone Filter, a division of CECO Environmental Corp (CECO).
The Company has acquired the goodwill, business and trading assets of Keystone for cash.
Keystone designs and manufactures a range of filter cartridges and housings for the food and beverage, drinking water, and chemical process markets in the USA.
Keystone reported revenue of approximately $4 million in the year ended 31 December 2017. As part of this acquisition, the Group has entered into a transition services agreement with CECO to transfer the business to its plant in Ashland, Virginia, over the next few months.
Ben Stocks, Chief Executive of Porvair plc, said: “The acquisition of Keystone increases [our] presence in the US, broadening [our] markets and providing a range of cross selling opportunities. Keystone brings sales expertise, distribution and a broad customer base for whom Porvair’s wider product range will be attractive.”
Corporate Comm India(CCI Newswire)