Pacific Avenue Capital Partners to Acquire Sogefi's Filtration Business

Pacific Avenue Capital Partners, a Los Angeles-based private equity firm, has announced a put option agreement to acquire the Filtration Business Unit from Sogefi S.p.A. This division, soon to be Purflux Group, is a leader in manufacturing vehicle filtration components and serves a global clientele. It operates 11 manufacturing facilities across seven countries and maintains significant aftermarket and OEM relationships. In 2023, it reported over $600 million in revenue and an adjusted EBITDA above $100 million.

The acquisition aligns with Pacific Avenue's strategy to focus on aftermarket growth and the shift towards electric vehicles. Chris Sznewajs, founder and managing partner, emphasized the unit's robust R&D and its recent successes in securing EV opportunities. The transaction, expected to close by early Q3 2024, will see Julien Grange continue as CEO, aiming to spearhead further innovations and growth in the filtration industry.

This acquisition further establishes Pacific Avenue’s footprint in Europe and reiterates its capability to navigate and execute complex carve-outs across various industries. The deal involves key advisory roles from Robert W. Baird & Co, Weil, Gotshal & Manges LLP, Legance - Avvocati Associati, and J.P. Morgan Securities for financing arrangements.