BB&T Capital Upgrades Clarcor (CLC) to Buy
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CLARCOR (CLC) to Acquire Filtration Business of Stanadyne for $325M
April 28, 2014 4:22 PM EDTCLARCOR Inc. (NYSE: CLC) announced that it has entered into an agreement to acquire the filtration business of Stanadyne Corporation, a portfolio company of Kohlberg & Co., LLC, for approximately $325 million, subject to contractually agreed adjustments. The transaction is expected to close within the next two weeks.
With approximately 200 employees and 2013 annual revenues of approximately $107 million, the business is a leading supplier of original equipment and replacement fuel filtration products, including the well-known Fuel Manager® line of diesel fuel filters and water separators, primarily for off-road, agricultural and construction applications. The business has been... More
