MANN+HUMMEL acquires air filtration specialist Vokes Air from The Riverside Company
• MANN+HUMMEL extends industrial filtration business adding HVAC and Gas Turbine Filters
• Vokes Air fits into the growth strategy of the market leader in filtration
• European presence expanded: 400 new employees from 11 locations
Ludwigsburg (Germany) / Svenljunga (Sweden), 17 February, 2014 – The MANN+HUMMEL Group (www.mann-hummel.com) with headquarters in Ludwigsburg acquires Vokes Air from The Riverside Company, an international private equity firm. The Swedish-based company Vokes Air, a leading filtration solutions provider, produces and distributes filters for indoor and process air purification. In Europe, the company’s 400 employees are currently based primarily in Germany, Sweden, and the UK. With this acquisition, MANN+HUMMEL is following its growth strategy, which includes increasing their presence in filtration markets outside of the automobile industry. The particulars of the acquisition will not be made public.
Alfred Weber, CEO of MANN+HUMMEL notes: “With Vokes Air, we enter a new market with great potential. This acquisition creates new chances for both the companies and the employees.”
The HVAC segment (Heating, Ventilation, Air Conditioning) has approximately a 15 percent share in the global filtration market, and offers attractive growth rates. This segment belongs to the mega-trend of ‘air purification’, which has a growing importance for medical and industrial applications (e.g. clean room requirements).
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The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. Employing 15,100 people at more than 50 locations worldwide, the company achieved turnover of about 2.77 billion euros in 2013 (preliminary figures). The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and plastic sound components (known as 'symposers'), as well as filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company’s product range includes industrial filters, a series of products to reduce carbon emission levels in diesel engines, membrane filters for water filtration and filter systems.