Pacific Avenue Capital Partners Completes the Acquisition of the Filtration Business of Sogefi S.p.A., Now Operating as Purflux Group
LOS ANGELES, June 4, 2024 (Newswire.com) - Pacific Avenue Capital Partners (“Pacific Avenue”), a Los Angeles-based private equity firm focused on corporate carve-outs and other complex transactions in the middle market, announced today that it has completed the acquisition of Sogefi Filtration S.A. and Sogefi USA Inc. (collectively, the “Filtration Business Unit” or the “Company”) from Milan-based Sogefi S.p.A. (“Sogefi”). The Company, now operating as Purflux Group (“Purflux”), is a leading manufacturer of vehicle filtration components and systems serving both the automotive aftermarket and Original Equipment (“OE”) customers globally. Purflux operates 10 manufacturing facilities across 7 countries (France, United States, India, Slovenia, Italy, Morocco, and the United Kingdom), 2 main distribution hubs in France and Poland, and 2 regional distribution hubs in the United Kingdom and Spain. The Company has extensive relationships with leading aftermarket distributors and blue-chip OEMs. In 2023, the Company generated over $600 million of revenue.
Under Pacific Avenue's stewardship, Purflux will focus its efforts on meeting the needs of its customers and on executing several growth initiatives tied to its aftermarket business and the long-term transition to electric vehicles.
“We are excited to complete the acquisition of Purflux and continue building a global filtration leader alongside a world-class management team. Purflux maintains strong OEM and aftermarket customer relationships and is well-positioned to support OEMs in the transition to electrical vehicles. Since we signed the put option agreement in early 2024, Purflux has booked more than $100 million of new business, including several wins on EV platforms. We look forward to continuing to grow the business both organically and through strategic M&A.”
-Chris Sznewajs, Founder and Managing Partner of Pacific Avenue
Purflux’s leadership team will stay in place and will continue to prioritize quality, service, and support. Dedicated manufacturing facilities and R&D centers are included in the transaction.
“The entire Purflux management team is excited to operate under Pacific’s ownership to continue to build upon our long and successful history as a leader in the filtration industry. We remain committed to providing the best level of quality, delivery and support to all customers, while also offering innovative design solutions to OEMs in their transition to E-mobility.”
-Julien Grange, CEO of Purflux Group
Pacific Avenue was advised by Robert W. Baird & Co. Inc., Weil, Gotshal & Manges LLP and Legance – Avvocati Associati. J.P. Morgan Securities acted as the lead arranger for the financing.
Sogefi was advised by Houlihan Lokey, Inc. and Clifford Chance LLP.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners is a Los Angeles-based private equity firm focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience, allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. The members of the Pacific Avenue team have closed over 105 transactions, including over 40 corporate divestitures, across a multitude of industries throughout their combined careers. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. Pacific Avenue has more than $1.7B of Assets Under Management (AUM) as of March 31, 2024. For more information, please visit www.pacificavenuecapital.com.
About Sogefi S.p.A.
Sogefi S.p.A. is a Milan-based supplier of original parts for the automotive industry globally. Sogefi designs, develops, and produces filtration systems, flexible suspension components, and air management and cooling systems. Through its strong commitment to research, Sogefi continuously improves its components with technological developments across all product sectors, optimizing performance in terms of life cycle, effectiveness, size, weight, and environmental compatibility. For more information, please visit https://www.sogefigroup.com/en/index.html.
Source: Pacific Avenue
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