DCI News & Events

Donaldson announced it has entered into a definitive agreement to acquire Filtration Group's Facet Filtration business in an all-cash transaction valued at approximately $820M. The purchase price represents approximately 20x calendar year 2025 EBITDA, or 16.6x when adjusted for the present value of expected tax benefits and cost synergies. Facet offers fuel and fluid filtration solutions for mission-critical applications primarily in aerospace and defense, as well as power generation. The company is a pioneer in the jet fuel filtration market where its products are utilized at multiple stages of the fuel supply chain from refinery to end fueling point. Headquartered in Tulsa, Oklahoma, the company has 236 employees across the U.S. and Europe with key manufacturing locations in Oklahoma and Spain. Calendar 2025 sales were $108M, primarily generated in North America and Europe at 57% and 26%, respectively. Donaldson intends to fund the transaction through a combination of cash on hand and new debt financing. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals.

Donaldson Company announced that the company's board of directors has elected chief operating officer Richard Lewis as president and chief executive officer, effective March 2, 2026. Lewis will succeed Tod Carpenter, who will transition to executive chairman after a career spanning 30 years at the company, including the past 11 years as president and chief executive officer. Lewis will also join the company's Board. "On behalf of the Board, we extend our sincere appreciation to Tod for his exceptional leadership and decades of service," said Christopher Hilger, Lead Independent Director. "Under Tod's leadership, the Company significantly expanded revenue and profit, strengthened its operating model, and created long-term shareholder value by fostering a strong, principled culture. With Rich's deep understanding of Donaldson's businesses and operations, the Board is confident the Company will continue to execute well and build on its long track record of success."