Donaldson Europe BVBA – UAE Branch, a wholly owned subsidiary of Donaldson Company, Inc., has entered into an agreement to purchase Northern Technical L.L.C. This Abu Dhabi-based company is the largest manufacturer of gas turbine air filter intake systems in the Middle East, with CY14 sales worth US$22 million expected.
The acquisition is expected to close in September, subject to the usual closing conditions. Once the acquisition is completed Donaldson will manage its Europe, Middle East and Africa Gas Turbine business from its Abu Dhabi Branch office.
“The acquisition of Northern Technical reinforces our commitment to growth with a company that is an excellent strategic fit with our existing Gas Turbine Products business,” commented Tod Carpenter, Donaldson's Chief Operating Officer. “The acquisition will allow us to leverage Northern Technical's strong customer relationships in the Middle East, the largest gas turbine market in the world, with significant continued growth expected over the next decade. The acquisition will also broaden our product depth as Northern Technical has unique technology that we will leverage into new, first-fit air intake offerings for our customers. Northern Technical also has a full line of air filters which we can add to our global product portfolio.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/africa-middle-east/14082014/donaldson-plans-to-acquire-northern-technical-293/