Lancashire manufacturing group Andrew Industries has agreed an $83m (£49.7m) deal to sell six of its filtration division businesses to a US firm.
Lydall, headquartered in Manchester, Connecticut, will acquire subsidiaries operating in the UK, USA and China, accounting for 450 staff and with annual revenues of $127m (£76.1m).
Products sold under the brands include Andrew Webron in Europe, which is used in air filtration across industries including power generation, cement, steel, food and pharmaceutical.
The transaction further strengthens Lydall’s position as a global provider of filtration and engineered material products, following a year which saw it achieve revenues of $385.5m.
Andrew Industries chairman Ted Andrew, who is the third generation of the four original founders of the business founded in 1894, said he is pleased at Andrew’s Filton division becoming part of Lydall.
“I know Lydall, like Andrew Industries, prides itself on upholding the highest standards of commercial and technical integrity, innovation and quality so the businesses fit extremely well together. I wish Lydall and all the employees working within the Filtration Division every success.”
Andrew Industries will continue to operate its Engineering and Laundry Divisions from its Lancashire headquarters.
