Freudenberg is expanding its filter business strategically. In the United States, the Freudenberg business group Filtration Technologies acquires the Protect Plus Air Holding, Inc. from its current owner, the Indianapolis-based private equity firm HKW. Based in Hickory, North Carolina, Protect Plus Air is a leading producer of high-quality air filters for residential buildings. They are mainly sold through retailers. The company has 940 employees and generated $118 million in revenue in 2020. The parties have agreed not to disclose the purchase price.
“With the acquisition of Protect Plus Air, we are expanding our portfolio of filtration solutions in the important North American market by adding the attractive, fast-growing field of residential building ventilation,” said Dr. Mohsen Sohi, CEO of the Freudenberg Group. “Protect Plus Air is expanding and strengthening our already existing filtration portfolio for mobility and industrial applications worldwide.”
The U.S. Census Bureau put the country‘s real estate market at about 139 million residential units in 2019. About 84 percent of them are already equipped with air-conditioning or ventilation systems. They rely on air filters that improve performance and increase the operating life of the equipment, and above all protect people from airborne particles. The market has been on the rise for several years. Due to the corona pandemic, American consumers have become more aware of air hygiene, which is leading to increased demand, especially for filters in the higher performance categories.
“Protect Plus Air is an outstanding fit for us,” said Dr. Andreas Kreuter, CEO of Freudenberg Filtration Technologies. “The company’s highly customer-focused team has decisive factors in retail in its favor, with a strong brand portfolio, a competitive distribution network, and strong consulting expertise in commercial marketing.” Founded in 2001, the company has had years of excellent business relations with well-known retail chains in the United States. The business group Freudenberg Filtration Technologies is providing its expertise in innovation, materials and production to the company. “In Freudenberg, we are glad to have found a new owner oriented to technology and value,” said Greg Schorr, CEO of Protect Plus Air. “Together we will continue to offer our retail customers outstanding services and products and will expand cooperation with our business partners further.”