Celeros sells off filtration business

Celeros Flow Technology (Celeros FT), which produces valves, pumps and closures for the power, oil & gas and marine markets, will sell its filtration business unit to UK private equity firm, Px3 Partners (Px3).

Celeros FT is held by funds affiliated with Apollo Global Management.

Under the terms of the agreement, Px3 will purchase the filtration business, which provides consumable, mission-critical industrial filtration systems. The transaction is subject to customary regulatory approvals and closing conditions.

Upon completion of the transaction, Celeros FT intends to accelerate the strategic transformation of its flow control solutions through reinvestment in the business, its employees, and the pursuit of strategic acquisitions that complement its core strengths.

A selection of Celeros FT filter elements. The company announced it has entered into a definitive agreement to sell its filtration business unit to London headquartered private equity firm, Px3 Partners (Px3). (Image: Celeros Flow Technology)

José Larios, President, and CEO of Celeros Flow Technology, said the sale follows a comprehensive diligence process and represents a significant milestone for the company.

“We are encouraged by the value that this deal creates for both Celeros FT and the Filtration business,” he said. “Specifically, this divestiture will enable the company to prioritize investments that will unlock greater value for our customers as we continue to build upon the positive progress of our full lifecycle aftermarket programs and our transformation to be the leader in our space for new energy solutions. The fit for Px3 and the filtration business is strong and will result in great outcomes for our filtration team members around the world. Upon completion of the sale, our business will be concentrated on serving customers in mission-critical flow control applications through our well-positioned pump, valve, and closure brands.”