Market Dynamics
Filtration Group buys Porex
Time: 2013-12-18 Source from: www.plasticsnews.com
Filtration Group Corp. has acquired porous polymers and plastics maker Porex Corp. for an undisclosed price.
Fairburn, Ga.-based Porex makes materials that are used in a broad range of filtering and venting applications in packaging, automotive, medical, bioscience and other markets. The firm employs 700 and operates manufacturing plants at its headquarters site, as well as in Germany, Scotland and Malaysia.
Chicago-based Filtration is a global leader in cleaning air and reducing carbon emissions. The firm operates plants in 20 countries worldwide.
Filtration is owned by private equity firm Madison Capital Partners of Chicago. Porex is being sold by Los Angeles private equity firm Aurora Capital Group. Officials said in a news release that under Aurora’s ownership, Porex made several strategic acquisitions and divestitures, including the sale of its surgical division.
Porex was founded in 1961 by research scientist Bob Dickey. The firm initially made sheet material out of various polymers for use in a caustic fluid separation process.
Investment firm Robert W. Baird & Co. of Milwaukee served as financial advisor to Porex on the sale.