PE-backed Stanadyne to sell filtration business to Clarcor for about $325 mln

Stanadyne, which is backed by Kohlberg & Company, has agreed to sell its filtration business to Clarcor for approximately $325 million. No financial terms were disclosed for the transaction, which is expected to be completed in early May. Robert W. Baird & Co. and Ropes & Gray were financial and legal advisors, respectively, to Stanadyne. XMS Capital Partners was financial advisor to Clarcor on the deal.


WINDSOR, Conn.–(BUSINESS WIRE)–Stanadyne Corporation (“Stanadyne”) today announced the signing of a definitive agreement to sell its Filtration business (“Filtration”) to Clarcor, Inc. (“Clarcor”) for approximately $325 million. Proceeds of the sale will be used to retire debt and pay expenses related to the transaction.
Filtration includes a manufacturing facility in Washington, North Carolina, as well as engineering and administrative operations in Windsor, Connecticut.
Robert G. Isaman, CEO of Stanadyne, commented, “This is truly an extraordinary opportunity to contribute Filtration to a leading, dedicated filter company that will deliver lasting value to customers, employees and to the communities in which it operates, and for us to focus exclusively on our growing fuel systems businesses.”
Seth H. Hollander, a partner at Kohlberg & Company, whose affiliated funds own Stanadyne, commented, “We are pleased that our efforts to broaden Filtration’s product offering and to build a world-class organization have positioned the business to make this next step in its evolution. We look forward to operating Stanadyne as a focused leader in its fuel systems end markets around the world and continuing to grow those businesses through technical innovation and new market development.”
Joseph M. Vorih, Senior Vice President of Filtration, commented, “Our team is thrilled to be joining one of the world’s leading filtration companies. By combining our filters business with Clarcor’s large and broad filtration offering, we are establishing a unique growth platform in attractive, growing market segments around the world.”
Closing of the transaction, which is subject to customary closing conditions, is expected to occur in early-May. Robert W. Baird & Co. and Ropes & Gray LLP served as exclusive financial and legal advisors, respectively, to Stanadyne. XMS Capital Partners served as exclusive financial advisor and Bass Berry & Sims PLC served as lead legal advisor to CLARCOR in connection with the transaction.
About Stanadyne: Stanadyne is a leader in technology and services for engine components and fuel systems for gasoline and diesel engines used in agricultural, construction, industrial, and automotive vehicle and equipment applications. Stanadyne is headquartered in Windsor, Connecticut and has facilities in the United States, Italy, India, and China.