Porvair Buys Keystone Filter

Porvair Filtration Group has acquired Keystone Filter, a division of CECO Environmental Corp (CECO). The company has acquired the goodwill, business and trading assets of Keystone for cash.

Keystone designs and manufactures a range of filter cartridges and housings for the food and beverage, drinking water and chemical process markets in the U.S.

Keystone reported revenue of approximately $4 million in the year ended December 31, 2017. As part of this acquisition, the group has entered into a transition services agreement with CECO to transfer the business to its plant in Ashland, VA, over the next few months.

Ben Stocks, chief executive of Porvair plc, says: "The acquisition of Keystone increases [our] presence in the U.S., broadening [our] markets and providing a range of cross selling opportunities. Keystone brings sales expertise, distribution and a broad customer base for whom Porvair's wider product range will be attractive."