M&A Acquirer Playbook

DONALDSON Co INC acquisition history.

Every deal, price, and strategic rationale.

Company DONALDSON Co INC
SEC CIK 0000029644
Tracked filings EDGAR · 8-K
Total deals tracked
10
Disclosed 8-K acquisitions, 2015 — present.
Aggregate disclosed value
$1.2B
~$1.2 billion across 10 disclosed transactions (2015-2026) — led by the ~$820M Facet deal; most are sub-$150M filtration tuck-ins.
Active acquisition years
2021 (3 deals) - 2023 (2 deals) - 2026
Life Sciences buildout 2021-2023, then a step-change with Facet.
Primary sectors
Filtration across three segments: Life Sciences bioprocessing , Industrial Solutions fume/fuel filtration (Facet, BOFA, PAIS, Hy-Pro), and engine/mobile filtration (Partmo, EPC)
UTEC, Isolere, Solaris, Purilogics.
Verified 10 deals on this page · sourced from SEC filings
All cross-references covered.

10 deals, $1.2B deployed.

Plotted by close date where disclosed, otherwise announcement. Click any marker to jump to the deal entry.

The rationale that repeats.

Three patterns show up across DONALDSON's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the individual deals below are the evidence.

01
Acquisition criteria

Filtration-only, bolt-on by design.

Across a decade of dealmaking Donaldson has bought nothing outside filtration - fume extraction (BOFA, PAIS), hydraulic and lubrication filtration (Hy-Pro), engine replacement filters and instrumentation (Partmo, EPC), bioprocessing equipment and purification chemistry (Solaris, Purilogics, UTEC, Isolere), and jet-fuel filtration (Facet). Most deals are sub-$150 million and disclosed as immaterial in 10-K acquisition notes rather than dedicated 8-Ks.

Facet (Filtration Group's Facet Filtration business)Univercells Technologies (UTEC)Isolere BioPurilogicsSolaris Biotechnology S.r.l.
02
Capital deployment

A deliberate Life Sciences platform build.

Between fiscal 2022 and 2023 Donaldson assembled an entire bioprocessing franchise through four sequential tuck-ins - Solaris (bioreactors and fermenters), Purilogics (membrane chromatography), Isolere (IsoTag purification reagents) and UTEC (single-use fixed-bed bioreactors for cell and gene therapy) - spending roughly $275 million to create its third reporting segment alongside Mobile and Industrial Solutions.

Facet (Filtration Group's Facet Filtration business)Univercells Technologies (UTEC)Isolere BioPurilogicsSolaris Biotechnology S.r.l.
03
Integration approach

Stepping up in scale with Facet.

After years of disciplined sub-$150M tuck-ins, the February 2026 agreement to buy Filtration Group's Facet business for approximately $820 million marks a step-change - Donaldson's largest disclosed deal, priced at ~20x EBITDA and pursued for its ~70% recurring, regulated-replacement-part revenue base in aerospace, defense and power generation.

Facet (Filtration Group's Facet Filtration business)Univercells Technologies (UTEC)Isolere BioPurilogicsSolaris Biotechnology S.r.l.

The full deal book.

10 acquisitions. Click any row to see the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.

End of deal book
10 acquisitions · $1.2B deployed ·2015 — present
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