MINNEAPOLIS–(BUSINESS WIRE)—Wisconsin based vehicular filter maker Donaldson Company, Inc. (NYSE:DCI), has announced this month the agreement to acquire 100% of Industrias Partmo S.A. Partmo, a $15 million (USD annual revenues) manufacturer of replacement air, lube and fuel filters in Bucaramanga, Santander. Partmo employs approximately 250 employees at its main production site in Bucaramanga. Once the deal closes, Dondaldson indicates that it will report Partmo revenue under its Engine Products segment.
“The acquisition of Partmo will support our strategy of continued growth in our engine filter business in South America,” said Donaldson’s Vice President for Latin America, Guillermo Briseño. “Partmo is a well-recognized brand of replacement filters in Colombia and other countries in the northern portion of South America. We look forward to continuing and strengthening the long-term relationships they have built with their distributors and customers.”
“The Partmo business directly aligns with the priorities of our strategic growth plan by growing our replacement filter and liquid businesses, while further expanding our international business. Partmo’s factory in Colombia will be Donaldson’s first production site for engine liquid filters in South America,” said Tod Carpenter, Donaldson’s President and CEO. “I look forward to welcoming the Partmo employees to our Company.”
Donaldson currently employs over 12,500 employees across 140 sites. The acquisition is still subject to Colombian government regulatory review and approval, and is expected to close in the second quarter of 2016.
Headline photo: Dondaldson / Partmo signing ceremony. Photos courtesy of Donaldson Company, Inc.