DONALDSON Co INC acquired BOFA International Ltd for $98.2 million for initial 88% (FY2019); stepped up to 91% with an additional ~3%, then remaining 9% for $8.0 million (FY2021); ~$101.3 million for 91% net of $2.2M cash, a transaction completed in October 2018, structured as all cash.
BOFA International Ltd operates in Industrial Solutions, is based in Headquartered in the United Kingdom. BOFA designs, develops and manufactures fume extraction systems across a wide range of industrial air filtration applications. Headquartered in the United Kingdom. Donaldson announced the agreement to acquire 88% of BOFA's shares on September 11, 2018, closed the initial purchase on October 18, 2018, increased ownership to 91% by Q4 fiscal 2019, and acquired the remaining 9% in fiscal 2021 for $8.0 million.
The acquisition allowed Donaldson to accelerate its global growth in the fume collection business and added additional filtration technology to its existing product lines.
Accelerated global growth in the fume collection business and added filtration technology to existing product lines. Industrial Products / Industrial Solutions segment
On October 18, 2018, the Company acquired 88% of the shares of BOFA International LTD (BOFA), headquartered in the United Kingdom, for cash consideration of $98.2 million less cash acquired of $2.2 million. In the fourth quarter of 2019, the Company acquired an additional 3% of the shares, increasing its ownership to 91%. BOFA designs, develops and manufactures fume extraction systems across a wide range of industrial air filtration applications.Donaldson FY2019 10-K, Note 2 Acquisitions
Advisory firms were not disclosed for this transaction.