Bofa acquired by industrial air filtration specialist Donaldson
UK industrial fume and dust extraction firm Bofa International has been acquired by US industrial air filtration specialist Donaldson Company.
Donaldson’s portfolio of large-scale industrial extraction systems will complement Bofa’s range of portable extraction systems.
Tony Lockwood, managing director of Bofa, said: ‘We are looking forward to the next chapter in the Bofa story. Innovation and customer service have long been at the heart of our ethos and this will only get stronger as a result of this new partnership. There are many exciting developments in the Bofa pipeline, including bringing the iQ2 platform to market in 2019, and with the added strength of Donaldson, we are ambitious to further widen the technology gap with our competitors in the fume and dust extraction market.’
Donaldson’s chairman, president and CEO Tod Carpenter added: ‘The acquisition of Bofa aligns well with our strategy by growing our industrial air filtration business and diversifying our company through technology-led filtration solutions. I look forward to welcoming Bofa’s employees and customers to Donaldson Company, and supporting the Bofa team as they continue to grow their business.’
Bofa, headquartered in Poole, UK, 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 and employee headcount has increased by 50 per cent.
In 2017, Bofa secured a footprint in Europe, opening its first office in Germany. Its Illinois-based subsidiary, Bofa Americas, delivered a 23 per cent year-on-year growth. Earlier this year Bofa opened its new head office and centre of excellence in Poole, growing its UK facilities by 25 per cent.
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. Earlier this year, the company was recognised for its fast-growing worldwide sales in The Sunday Times HSBC International Track 200.
The firm was also recently selected as the regional winner for Dorset in the High Growth Business of the Year category of the British Chamber of Commerce Awards. Bofa will now go forward to represent Dorset in the national finals to be held in London in late November, when the national winners will be announced and one of them also crowned as Business of the Year.