The Mann+Hummel Group, Ludwigsburg, Germany has acquired Vokes Air from The Riverside Company, an international private equity firm. The Swedish-based company Vokes Air, a leading filtration solutions provider, produces and distributes filters for indoor and process air purification. In Europe, the company’s 400 employees are based primarily in Germany, Sweden, and the UK. With this acquisition, Mann+Hummel is following its growth strategy, which includes increasing its presence in filtration markets outside of the automobile industry. The particulars of the acquisition will not be made public.
Alfred Weber, CEO of Mann+Hummel notes: “With Vokes Air, we enter a new market with great potential. This acquisition creates new chances for both the companies and the employees.”
The HVAC segment (Heating, Ventilation, Air Conditioning) has approximately a 15% share in the global filtration market and offers attractive growth rates. This segment belongs to the mega-trend of ‘air purification’, which has a growing importance for medical and industrial applications (e.g. clean room requirements).