Donaldson Co. has purchased industrial filtration firm Hy-Pro Corp. for an undisclosed price.
In making the acquisition, Donaldson gains a manufacturer of filtration systems and replacement filters for stationary hydraulic equipment and for industrial lubrication systems. The addition, announced Monday, is expected to be a good fit for Donaldson, the $2.2 billion Bloomington-based filtration giant with operations around the globe.
The 31-year-old Hy-Pro is based in Anderson, Ind., has 110 employees and generates about $25 million in annual revenue.
"Hy-Pro is an excellent addition to Donaldson's global portfolio of filtration businesses," Donaldson CEO Tod Carpenter said in a statement. He added that Hy-Pro's filtration products help industries because they help extend the life of critical customer equipment and expensive fluids.
"Like Donaldson, Hy-Pro has demonstrated a commitment to product innovation and a high level of customer support to solve their customers' filtration problems," Carpenter said. "We welcome Hy-Pro's employees and customers, and we look forward to continuing to grow the Hy-Pro business with them."
Donaldson's stock price closed down a penny at $46.27.
Dee DePass • 612-673-7725
