Porvair acquires Keystone Filter
Porvair Filtration Group, has 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."
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