Donaldson Company (Bloomington, MN), which manufactures industrial air filtration systems and parts, has acquired BOFA International (BOFA; Poole, England), which specializes in industrial fume and dust extraction technology.
BOFA has experienced significant growth since a management buyout supported by mid-market private equity investor LDC in 2015. Over the past three years, substantial investment has been made in the company's infrastructure, international growth strategy, and product development. Revenues have almost doubled to £27 million (over $35.1 million) and headcount has increased by 50%.
In 2017, BOFA opened its first office in Germany. Its U.S. subsidiary, BOFA Americas (Staunton, IL), has continued to go from strength to strength, delivering 23% year-on-year growth. Earlier in 2018, BOFA opened its new head office and center of excellence in Poole.
BOFA has received two Queen’s Awards for Enterprise for outstanding achievement by a UK business in International Trade, and for Innovation in developing its Intelligent Operating (iQ) system.
The arrangement brings many synergies, with Donaldson's portfolio of large-scale industrial extraction systems complementing BOFA's range of portable extraction systems. The acquisition will enable BOFA to continue pushing the boundaries of fume and dust extraction technology in both product development and industry sector applications globally.