The amount of the deal was not disclosed.
The company will use the funds for expansion, particularly via add-on acquisitions in other European countries, and strengthening its workforce, especially in the field of distribution, marketing and sales in order to grow organically.
Founded in 1968 and taken over by Mr. Arthur Fritschi and Mr. Dirk van der Stroom in 1992, SF-Filter provides filters for oil, air, fuel, hydraulic, gas, pneumatic, liquid, de-dusting, heating, ventilating, and air conditioning (HVAC)-related applications. The product offering consists of both independent and SF-Filters own-brand filters. The company operates warehouses in Switzerland, and additional sites in Germany, Austria, France and Poland.
The company, which has more than 30,000 European customers ranging from original equipment manufacturers to resellers as well as end-customers, has sales of about CHF 80m.
Jochen Zähringer, currently responsible for SF-Filter’s German operations, will be promoted to Group CEO. He will take on the responsibility of group-wide operations. Arthur Fritschi and Dirk van der Stroom, will remain engaged with the company as shareholders, members of the board of directors, and managing directors.