M&A Deal Summary

Donaldson Acquires BOFA International

On September 11, 2018, Donaldson acquired technology hardware company BOFA International from Lloyds TSB Development Capital for 79M GBP

Acquisition Highlights
  • This is Donaldson’s 1st transaction in the Technology Hardware sector.
  • This is Donaldson’s 0th largest (disclosed) transaction.
  • This is Donaldson’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2018-09-11
Target BOFA International
Sector Technology Hardware
Buyer(s) Donaldson
Sellers(s) Lloyds TSB Development Capital
Deal Type Add-on Acquisition
Deal Value 79M GBP

Target

BOFA International

Dorset, United Kingdom
BOFA International Ltd. is a designer and manufacturer of fume extraction systems. BOFA International was founded in 1987 and is based in Dorset, United Kingdom.

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Buyer(S) 1

Buyer

Donaldson

Bloomington, Minnesota, United States

Category Company
Founded 1915
Sector Machinery
Employees13,000
Revenue 3.4B USD (2023)
DESCRIPTION
Donaldson's corporate headquarters in Minneapolis, Minnesota.
Donaldson's corporate headquarters in Minneapolis, Minnesota.

Donaldson is a provider of filtration systems and replacement parts. Donaldson is a technology-driven company committed to satisfying customer needs for filtration solutions through innovative research and development. Donaldson serves customers in the industrial and engine markets, including dust collection, power generation, specialty filtration, compressed air purification, off-road equipment, industrial compressors, heavy trucks and light vehicles. Donaldson was incorporated in 1915 and is based in Bloomington, Minnesota.


DEAL STATS #
Overall 12 of 17
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 9 of 13
Country (United Kingdom) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Hy-Pro Filtration

Anderson, Indiana, United States

Hypro Corp. designs and manufactures filtration systems and replacement filters for stationary hydraulic and industrial lubrication filtration applications. Hy-Pro, which was founded in 1986, is based in Anderson, Indiana, and has 110 employees. Hy-Pro generates annual revenue of approximately $25 million through sales of filtration systems and replacement parts for a wide range of industries, including manufacturing, metals processing and power generation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-23 Solaris

Mantua, Italy

Solaris designs and manufactures bioprocessing equipment, including bioreactors, fermenters, and tangential flow filtration systems for use in food and beverage, biotechnology, and other life sciences markets. Solaris’ product portfolio ranges from benchtop systems for research and development to pilot and commercial-scale manufacturing systems. Solaris is based in Mantua, Italy.

Buy -

Seller(S) 1

SELLER

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 130 of 198
Sector (Technology Hardware) 2 of 2
Type (Add-on Acquisition) 65 of 94
Country (United Kingdom) 125 of 192
Year (2018) 9 of 13
Size (of disclosed) 24 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 Love Energy Savings

Bolton, United Kingdom

Love Energy Savings is a provider of an energy price comparison platform for SMEs to identify the optimal gas and electricity supplier and tariff to suit their needs. Love Energy Savings was founded in 2007 and is based in Bolton, United Kingdom.

Buy £25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-20 SMH Fleet Solutions

Worcester, United Kingdom

SMH Fleet Solutions is a provider of fleet management services including delivery, preparation, refurbishment, and remarketing of vehicles to a broad range of blue chip automotive manufacturers, rental and leasing specialists. SMH Fleet Solutions was founded in 2003 and is based in Worcester, United Kingdom.

Buy -