STOCKHOLM&mdahsh;Nederman Holding AB has acquired Charlotte, N.C.-based pollution control company Environmental Filtration Technologies (EFT) for $366 million.
EFT had sales of $1.23 billion in 2011 and a workforce of 385 with facilities in Mississauga, Ont.; Trenton, SC; Pittsburgh, PA; Naucalpan de Juárez, Mexico; Cologne, Germany; Pontcharra, France; and Sydney and Melbourne, Australia.
The acquisition is expected to be finalized in September 2012 and consolidated into the Nederman Group by October 1, 2012. Integration of businesses activities is expected to be completed by the end of 2013.
Nederman says this acquisition will help extend its customer base; enter new important business segments; add valuable competence; and increase systems and aftermarket sales.