BOFA, headquartered in Poole, Dorset, has been recognised for its market-leading products, receiving two Queen’s Awards for Enterprise for outstanding achievement by a UK business in International Trade, and for Innovation in developing its world-first Intelligent Operating (iQ) system. Earlier this year, the company was recognised for its fast-growing worldwide sales in The Sunday Times HSBC International Track 200.
The company experienced significant growth since a management buyout supported by mid-market private equity investor LDC in 2015. Substantial investment has been made in the company’s infrastructure, international growth strategy and product development over the past three years. Headcount has increased by 50% and revenues have almost doubled to £27m.
The arrangement brings many clear synergies, with Donaldson’s portfolio of large-scale industrial extraction systems complementing BOFA’s extensive range of portable extraction systems. The acquisition will enable BOFA to continue pushing the boundaries of fume and dust extraction technology in both product development and industry sector applications globally.
Tony Lockwood, managing director of BOFA, said: “We are looking forward to the next chapter in the BOFA story. Innovation and customer service have long been at the heart of our ethos and this will only get stronger as a result of this new partnership. There are many exciting developments in the BOFA pipeline, including bringing the iQ2 platform to market in 2019, and with the added strength of Donaldson, we are ambitious to further widen the technology gap with our competitors in the fume and dust extraction market.”
Donaldson’s chairman, president and CEO, Tod Carpenter said: “The acquisition of BOFA aligns well with our strategy by growing our industrial air filtration business and diversifying our company through technology-led filtration solutions. I look forward to welcoming BOFA’s employees and customers to Donaldson Company, and supporting the BOFA team as they continue to grow their business.”
