Pleatco, a portfolio company of Align Capital Partners, said March 18 that it acquired APEL International and Milton Manufacturing. Financial terms weren’t announced. APEL, of Louisville, Kentucky, designs and makes pleated filter cartridges, pleated bags, and other filtration products for mission-critical industrial air applications. Milton, of Milton, Ontario, provides spun bond, paper, felt, and pleated bag filters for OEM customers.
Align Capital Partners’ Pleatco Platform Expands into Industrial Air Filtration; Closes Two Acquisitions
CLEVELAND and DALLAS, March 18, 2019 – Align Capital Partners (“ACP”) is pleased to announce its portfolio Company Pleatco, LLC (“Pleatco” or “the Company”), the market leading manufacturer of aftermarket cartridge filters for the pool and spa industry, has expanded into the industrial air filtration market with the acquisitions of APEL International (“APEL”) and Milton Manufacturing (“Milton”).
APEL designs and manufactures pleated filter cartridges, pleated bags, and other filtration products for mission-critical industrial air applications. “APEL’s library of more than 5,000 custom and stock filters provide its distribution and OEM customers with the broadest range of aftermarket filtration products in the industry,” said Paul LaCroix, founder of APEL. “I’m excited to continue our legacy as a high-quality manufacturer with industry-best lead times under the Pleatco Filtration brand and platform.” APEL services customers throughout North America from its facility in Louisville, KY.
“The commitment to product quality, customer service, and innovation were key to my decision to partner with Pleatco,” said Dave Brunner, President of Milton Manufacturing. “For over 20 years, Milton has staked its reputation on providing the highest quality spun bond, paper, felt, and pleated bag filters to support our OEM partners for their specialized dust collection needs.” Milton services customers in Canada and the United States from its facility in Milton, ON.
Coincident with the acquisitions of APEL and Milton, Rick Von Drehle has joined Pleatco Filtration as CEO. “The acquisitions of APEL and Milton are core to our strategy at Pleatco Filtration – to build a diversified, aftermarket focused filtration products company with an unwavering commitment to science and innovation,” said ACP Managing Partner Rob Langley. “Rick has been on the board at Pleatco since we invested in 2017, he has a great track-record of building and growing filtration businesses and we look forward to working with Rick and the broader Pleatco team to execute our organic growth initiatives and to further build the Pleatco Filtration platform through acquisitions.” Pleatco Filtration plans to build out its headquarters and senior management team in Louisville, leveraging a recently completed plant expansion at APEL.
Operating Partner John Dupuy, Vice President Matt Beesley, and Senior Associate Jonathan Vadiee worked alongside Mr. Langley on the transactions.
About Pleatco, LLC
Pleatco is a leading designer and manufacturer of pleated filter cartridges and other filtration products for the pool / spa and industrial end markets across both USA and Europe. Products are marketed under the Pleatco Ultra™ and Pleatco Advanced™ brands, which are backed by an industry leading engineering, product development, sales and marketing and customer service teams. For more information, visit www.pleatco.com.
About Align Capital Partners
Headquartered in Cleveland and Dallas, Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP brings experience, resources, and a $326 million committed fund to help companies accelerate their growth, to the benefit of management, employees and the firm’s investors. ACP makes control investments in growth-oriented, lower-middle market specialty manufacturing, distribution, and business services companies. For more information, visit www.aligncp.com.