IMAP advises on key cross-border transaction
Hengst Group, Münster, active in the area of filtration, acquired the Danish company Nordic Air Filtration as of 1st February 1st, 2016, from US based listed industrial group MFRI Inc.. The acquisition was made in accordance with the its growth strategy to achieve a balanced and diversified business, a global presence and technology transfer into related areas.
Hengst Group, Münster, active in the area of filtration, acquired the Danish company Nordic Air Filtration as of 1st February 2016, from US based listed industrial group MFRI Inc.. The acquisition was made in accordance with its growth strategy to achieve a balanced and diversified business, global presence and technology transfer into related areas.
With the attractive product portfolio of Nordic Air, Hengst can further strengthen its activities in the non-automotive market, accelerate the market penetration in the industrial sector and capitalize on the significant growth potential in the industrial filtration market.
Founded in 1958, the Hengst Group is a family business with 14 locations in 9 countries and approximately 3,000 employees. It generates an annual revenue of approximately € 400 m.
Nordic Air Filtration adds three additional locations in Denmark and the United Arab Emirates. It is one of the market leaders with a product range of over 4,000 products in industrial dedusting and filtration of the intake air in gas turbines. The existing Managing Director of Nordic Air will continue to be responsible for the business.