Livingstone advises Equistone-backed SF-Filter AG on strategic add-on acquisition in Belgium

Livingstone has advised SF-Filter AG, a Switzerland-based portfolio company of Equistone Partners Europe, on the strategic add-on acquisition of the Belgian filter distribution specialist Hermans Brems NV. With this acquisition, SF-Filter Group further expands its portfolio and paves the way for further growth in the highly attractive Belgian market. Terms of the transaction have not been disclosed.

SF-Filter Group, headquartered in Bachenbülach, Switzerland, has evolved into a leading provider of filter solutions for applications in the air, fuel, hydraulics, oil, and pneumatics sectors since it was founded in 1968. With a broad product range and end customers, as well as resellers, as customers, the company has established itself as a relevant one-stop shop. Funds advised by Equistone acquired SF-Filter in 2022 and have since been pursuing a dynamic growth strategy that aims to continuously expand its market position as a preferred filter partner throughout Europe through further acquisitions. Just in October 2023, the Group acquired German Busse & Kuntze Filter GmbH, one of the most well-known full-range suppliers for industry and commerce.

Belgian Hermans Brems is one of the most renowned filter specialists in Flanders and has been established in the aftermarket for mobile and industrial filtration for decades. The acquisition gives SF-Filter access to customers in the attractive Flemish market segment. The Hermans Brems site near Antwerp will continue to operate under the current management team led by Geert Kleynen and the employees will be fully retained. SF-Filter will primarily provide operational support and drive the further growth of Hermans Brems by giving access to the entire range of over 140,000 filters and support with digitalization investments.

“We are pleased to welcome Hermans Brems, a long-standing distribution partner, into the group, strengthening our regional presence in the Flemish market,” said Daniel Infanger, CEO of the SF-Filter Group. “The acquisition marks a successful start to 2024, where we intend to continue our growth strategy through further acquisitions. My special thanks go to Livingstone’s deal team for their very professional support from the initial contact to the management of the due diligence and support during the negotiations through to the successful completion of the transaction.“

Geert Kleynen, Managing Director of Hermans Brems, explained: „By continuing our business operations from our location in Flanders, we can ensure the best possible support for our customers, now further expanded through full access to the wide range of products and services from SF-Filter.“

 “The acquisition of Hermans Brems enables the SF-Filter Group to position itself even better as a leading player in the field of filtration solutions and to supply customers as a one-stop shop. At the same time, the transaction also offers Hermans Brems the opportunity to take the next development step together with its new strategic partner. We are very pleased to support the growth strategy of SF-Filter’s management and would like to thank Equistone and the management of SF-Filter for their trust”, added Johannes Faber, Partner at Livingstone Düsseldorf.

This first add-on transaction for the SF-Filter Group follows the numerous add-on transactions in the “structured buy-and-build” segment for other platforms of financial investors, such as Amadys Group, vitronet Group or Andra Tech Group.