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Atmus Filtration Technologies to Acquire Koch Filter Corporation

ATMU
  • Atmus Filtration Technologies Inc. agreed to acquire Koch Filter Corporation from Air Distribution Technologies Inc. for $450 million in cash, subject to customary adjustments.
  • Koch Filter generated $156 million in revenue during the 2025 fiscal year ended September 30, 2025.
  • The purchase price reflects a 13.9x multiple of Koch Filter's Adjusted EBITDA for the 2025 fiscal year.
  • After adjusting for the present value of expected tax benefits, the net transaction value is approximately $395 million, representing a 10.9x multiple.
  • The acquisition is expected to be accretive to Atmus' Adjusted EPS and Adjusted EBITDA margin in 2026 and achieve high-single-digit ROIC by 2028.
  • Koch Filter specializes in industrial air filtration for commercial and industrial HVAC, data centers, power generation, HEPA, carbon, and specialty systems.
  • Koch Filter was founded in 1966, is headquartered in Louisville, Kentucky, and operates from sites across the U.S.
  • The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
  • Funding will come from a combination of cash on hand and borrowings under Atmus' credit facility, including a potential upsize.
  • Benesch served as legal advisor to Atmus, while Jefferies LLC served as financial advisor to Atmus.
  • Lincoln International LLC served as financial advisor to Air Distribution Technologies and Truelink Capital.