Daikin to acquire US air filter maker Flanders for $430 million

Daikin Industries, through subsidiary American Air Filter, announced the $430 million acquisition of US air filter manufacturer Flanders Holdings, buying all shares from investor Insight Equity Holdings, with closing expected in April 2016.

“OSAKA, Japan — Daikin Industries Ltd., through its subsidiary American Air Filter Co. Inc., has announced the acquisition of U.S. air filter manufacturer Flanders Holdings LLC, Washington, North Carolina. The acquisition price is $430 million (approximately 50.7 billion yen at an exchange rate of 1 USD=118 JPY). Daikin is to acquire all shares of Flanders from Insight Equity Holdings LLC, an investor in the company. The acquisition is expected to be concluded in April 2016.”

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