Donaldson to acquire Filtration Group Facet Filtration business for $820M

Donaldson (DCI) announced it has entered into a definitive agreement to acquire Filtration Group’s Facet Filtration business in an all-cash transaction valued at approximately $820M. The purchase price represents approximately 20x calendar year 2025 EBITDA, or 16.6x when adjusted for the present value of expected tax benefits and cost synergies. Facet offers fuel and fluid filtration solutions for mission-critical applications primarily in aerospace and defense, as well as power generation. The company is a pioneer in the jet fuel filtration market where its products are utilized at multiple stages of the fuel supply chain from refinery to end fueling point. Headquartered in Tulsa, Oklahoma, the company has 236 employees across the U.S. and Europe with key manufacturing locations in Oklahoma and Spain. Calendar 2025 sales were $108M, primarily generated in North America and Europe at 57% and 26%, respectively. Donaldson intends to fund the transaction through a combination of cash on hand and new debt financing. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals.