Donaldson agreed on 2 February to acquire Facet, Filtration Group's fuel and fluid filtration business, in an all-cash transaction valued at about $820m.
Why Donaldson Company, Inc. is buying Facet Filtration (Filtration Group)
Chief executive Tod Carpenter said Facet would add fuel and fluid filtration capabilities, including jet fuel filtration where it is a pioneer, to Donaldson's Industrial Solutions business and increase exposure to durable aerospace, defence and power generation markets. About 70% of Facet's revenue comes from replacement parts with regulated replacement cycles, and its margins are well above Donaldson's average. Donaldson expected the deal to add to margins immediately and to earnings per share in fiscal 2027.
Deal terms and financing
The price is about 20 times Facet's calendar 2025 EBITDA, or 16.6 times adjusted for the present value of expected tax benefits and cost synergies. Donaldson funded the deal with cash on hand and new debt. Facet had 2025 sales of $108m, 57% in North America and 26% in Europe.
Regulatory approvals and timing
The deal was subject to customary conditions including regulatory approvals. Donaldson's annual report for the year to 31 July 2026 states that it acquired Facet on 4 May 2026 for cash consideration of $830.2m.
Market context
Facet is headquartered in Tulsa, Oklahoma, with 236 employees and manufacturing in Oklahoma and Spain, and has 80 years of experience in aviation fuel filtration. Pulse 2.0 noted the deal adds a large installed base that strengthens Donaldson's aftermarket position.
