BOLOGNA, Italy, July 20, 2017 /CNW/ - GVS S.p.A, a leading microfiltration company, announced today that it has entered into an agreement to acquire Kuss Filtration Inc. ("Kuss"), from Industrial Opportunity Partners ("IOP"), an operations-focused private equity firm.
With the combination of their respective technical expertise, global sales and distribution networks, GVS and Kuss will together maximize penetration in the automotive, microfiltration markets. "GVS has high expectations for this new investment, stated Massimo Scagliarini, CEO of GVS. Kuss Filtration brings us extensive experience in the fuel filtration market. Their skilled management team, product portfolio, and significant sales position, will give GVS's Automotive Division clear leadership in the automotive microfiltration market."
"We are very excited to become part of the GVS Group, stated Hasnain Merchant, CEO of Kuss. This partnership will allow us to fully utilize our design and technical skills. We will also be able to provide additional products and solutions to our customers."
After the combination, GVS will operate from 26 locations in 22 countries around the globe. The company will employ over 2300 employees and serve the Healthcare, Automotive, Life Science, Personal Protection, Hvac and Appliance industries, outdoor power equipment, powersport and on-and off highway commercial vehicle markets.
GVS was advised by Ice Miller, and IOP and Kuss were advised by Robert W. Baird & Co., and Winston & Strawn LLP.
Founded in 1979, GVS is a global technology leader in the development and manufacture of filtration products primarily serving the medical, automotive, safety, Life Science, appliance and industrial markets. GVS has eleven manufacturing plants: in Italy, United Kingdom, Brazil, China, Romania, United States, with supporting sales offices in 22 countries.
About Kuss Filtration:
Founded in 1949 Kuss produces a wide variety of fuel, oil, lubrication and urea filters, engine air intake, cabin air and emission filters for a global customer base serving the light vehicle, outdoor power equipment, powersport and on-and off highway commercial vehicle markets. Headquartered in Findlay, OH, Kuss has four production plants in the United States, Brazil and China, and sales offices in France and Switzerland.
IOP, based in Evanston, IL, is a private equity investment firm with $910 million of committed capital since its inception. IOP is focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. Utilizing its operations-focused approach and dedicated Board of Operating Principals, IOP has a track record of stabilizing, growing and enhancing the value of its acquired businesses.
SOURCE GVS S.p.A