SWM (Schweitzer-Mauduit International) recently announced the acquisition of certain assets from Pronamic Industries, an air filtration media company.
The assets were purchased through a privately negotiated transaction.
Terms of the deal were not disclosed.
The acquired business is expected to produce revenue in excess of $20 million in 2015 and its operations will form part of SWM's Filtration segment.
Pronamic is headquartered in Wilson, North Carolina (USA).
"We are excited to add these attractive new assets to our DelStar platform," said Frédéric Villoutreix, Chairman of the Board and CEO of SWM. "These air filtration media offerings bring complementary capabilities to DelStar [acquired in late-2013] and provide a solid base for further growth into the filtration industry.
"We look forward to continuing to service existing customers, while actively marketing these products globally to an expanded customer base. Over the next several years, we expect strong growth and profitability from these assets."
The transaction is expected to be accretive beginning in 2015.
SWM manufactures specialty papers primarily for the tobacco industry, but also manufactures specialty grades for other applications.
