M&A
confidence high
sentiment positive
materiality 0.75
Atmus to acquire Koch Filter Corp for $450M to enter industrial air filtration market
Atmus Filtration Technologies Inc.
- Purchase price $450M cash; Koch Filter generated $156M revenue in FY2025 ended Sep 30, 2025.
- Transaction represents 13.9x Koch's Adjusted EBITDA; net value ~$395M after tax benefits (10.9x multiple).
- Expected to be accretive to Atmus' Adjusted EPS and EBITDA margin in 2026; high-single-digit ROIC by 2028.
- Funding: cash on hand and credit facility borrowings (potential upsize); expected close Q1 2026.
- Expands into industrial air filtration for HVAC, data centers, power generation; Koch Filter founded 1966, Louisville.