CLARCOR To Buy Stanadyne's Filtration Business

(RTTNews) - CLARCOR Inc. (CLC) said Monday that it has entered into an agreement to buy the filtration business of Stanadyne Corp., a portfolio company of Kohlberg & Co., LLC, for about $325 million, subject to contractually agreed adjustments.

The deal is expected to close within the next two weeks.

With about 200 employees and 2013 annual revenues of about $107 million, the business is a supplier of original equipment and replacement fuel filtration products, including the well-known Fuel Manager line of diesel fuel filters and water separators, primarily for off-road, agricultural and construction applications.

The business has been supplying fuel filter solutions to leading original equipment manufacturers for more than 50 years and is headquartered in Windsor, CT, with manufacturing operations in Washington, NC and start-up operations in India.