DONALDSON Co INC acquires Facet (Filtration Group's Facet Filtration business)

DONALDSON Co INC acquired Facet (Filtration Group's Facet Filtration business) for approximately $820 million, a transaction announced in February 2026, structured as all cash.

Facet (Filtration Group's Facet Filtration business) operates in Industrial Solutions, is based in Headquartered in Tulsa, OK; manufacturing in Oklahoma and Spain; CY2025 sales 57% North America, 26% Europe, had revenue of about Calendar 2025 sales of $108 million (~$110 million cited in deal rationale); ~70% from recurring, regulated replacement-part sales. Facet provides fuel and fluid filtration solutions for mission-critical applications, primarily in aerospace and defense and power generation. A pioneer in the jet fuel filtration market, its products are used at multiple stages of the fuel supply chain from refinery to end fueling point. Headquartered in Tulsa, OK, with 236 employees across the US and Europe and key manufacturing in Oklahoma and Spain. Acquired from Filtration Group at approximately 20.0x calendar-year-2025 EBITDA (16.6x adjusted for the present value of expected tax benefits and cost synergies).

Increasing exposure to attractive, durable end markets which require high-performance filtration solutions; strengthens and diversifies the core product portfolio with new capabilities in fuel and fluid filtration including jet fuel filtration.

~70% of sales from consumables with regulated replacement cycles; gross and EBITDA margins substantially above Donaldson average; low capital intensity and strong cash flow generation. Immediate margin accretion; EPS accretion in fiscal year 2027; cost synergies factored into the adjusted purchase multiple. Industrial Solutions business