Cleantech group Filtermist International completes Kerstar acquisition
Telford based air extraction and filtration specialist Filtermist International has acquired industrial vacuum cleaner manufacturer Kerstar, in a deal advised by BCMS.
Established in 1960, Kerstar produces a range of cleaners including ATEX-accredited machines for use in explosion risk environments. The company manufactures its products in Northampton and exports to more than 19 countries worldwide through a network of approved distributors.
UK customers consist of resellers and end-users in a range of industrial sectors including food production, engineering, aerospace, power generation, local authorities and cleaning companies. Kerstar also provides a comprehensive aftersales service throughout the UK which has resulted in a loyal customer base - an approach which perfectly aligns with Filtermist’s UK operation.
“The opportunity to add Kerstar to our portfolio offered a very interesting proposition for Filtermist,” comments Filtermist International CEO James Stansfield. “Kerstar products are used by a number of our existing customers in a range of industrial sectors so are a perfect addition to our product offering. They are also used in some markets we’re not currently active in, so offer a good opportunity to cross-sell products and services from our other business units.
“The company already has established routes to global markets, and we will be expanding this side of the business using our own channels and exporting experience.”
This is the third acquisition Filtermist has completed so far this year – it acquired the DCS Group of companies in January, and recently announced a deal to purchase the assets of Carter Environmental Engineers’ Air Services Division.
“Acquisitions play a key role in our wider group strategic growth plans,” continues James. “This strategy is being rolled out worldwide; Filtermist is part of Absolent Group which recently announced two acquisitions of its own – Montreal based fume extraction specialist Diversitech Inc and Jeven Global OY, a market leader in commercial kitchen ventilation based in Finland.
“Absolent Group has identified six air filtration ‘platforms’ which offer significant potential for growth and all acquisitions are designed to support these strategic objectives.”
Kerstar will immediately be consolidated into Absolent Group, and its previous owners – Andrey and Tom Starcevic – will be on call for a period after the acquisition to assist with the handover and all other employees will be retained in their existing positions.
Tom comments: “Kerstar has been a family firm for almost 60 years. In that time the business has grown significantly and achieved a huge amount. We are very pleased to have found a buyer that is willing to invest in the firm to ensure it continues to grow and we wish Filtermist every success.”
Kerstar’s shareholders were advised by BCMS with legal support from Freeths LLP. Filtermist was supported by legal assistance from Legal Clarity. The price and terms of the deal are undisclosed.
BCMS Lead Advisor Scott Jones added: “This was a fairly straightforward transaction greatly assisted by a good working relationship between advisors for both parties. We are delighted to have helped Tom and Andrey get the deal they wanted, and we are pleased that Kerstar has found its perfect partner for the next stage of its journey.”