Lydall Inc., Manchester, Conn., entered into an agreement to acquire MGF Gutsche GmbH & Co. KG for approximately $58 million in cash.
Gutsche manufactures nonwoven needle-punch materials serving the industrial filtration and high performance nonwoven segments from operations in Germany and China. The transaction will expand Lydall’s industrial filtration product offerings.
Dale G. Barnhart, Lydall’s president and CEO, said “The acquisition of Gutsche combines two complementary companies in the industrial filtration and technical materials markets. With the addition of Gutsche, we secure a strong filtration position in the fast growing waste-to-energy incineration market.”
The transaction is expected to close at year end, subject to receipt of customary merger control approval from German competition authorities and the completion of specified closing conditions.