Clarcor Inc. announced that a subsidiary of its Clarcor Industrial Air division has acquired the operational and intangible assets of TDC Filter Manufacturing Inc. (TDC), a leading U.S. manufacturer and supplier of pleated filter bags, dust collection cartridges, and gas turbine air filters, for a purchase price of approximately $11 million.
TDC had approximately $17 million of revenue in 2015. Under the terms of the transaction, Clarcor Industrial Air will assume open purchase orders from TDC and move TDC’s operational assets into Clarcor Industrial Air’s facilities in Slater, MO, and will not acquire any real property or assume any employee-related liabilities. The transaction is not anticipated to be materially accretive or dilutive to Clarcor’s 2016 earnings.
“The TDC product line is widely recognized and respected in the industrial air filtration space, particularly with OEM customers, and will be a strong complement to our existing BHA business,” said Christopher L. Conway, Clarcor’s chairman, president, and chief executive officer. “This, in combination with the operational synergies we expect to achieve as we increase volumes through our Slater facility, makes the acquisition an attractive one for Clarcor Industrial Air and for Clarcor.”
Keith White, president of Clarcor Industrial Air, agreed, saying, “We are excited about this acquisition, as it expands distribution channels in our target markets, aligns with our BHA aftermarket filter business, and builds on both our manufacturing strength and great technology.”
Clarcor is based in Franklin, TN, and is a diversified marketer and manufacturer of mobile, industrial, and environmental filtration products.
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