Public Press Release
SOUTHLAKE, Texas and WASHINGTON, North Carolina – May 21, 2012 – An affiliate of Insight Equity Holdings LLC (“Insight Equity”), the Dallas, Texas-area headquartered private equity firm, is proud to announce its acquisition of Flanders Corporation (“Flanders”). Flanders, together with its subsidiaries, is one of the largest manufacturers of air filters, air handling and containment systems, and related products in North America. The company offers residential heating and air conditioning filters under the Flanders Precisionaire brand, residential air cleaners, and industrial specialty filters. It also provides commercial and industrial filters for use in office and general manufacturing environments and high purity filters and containment systems for use in the semiconductor, biotechnology, pharmaceutical, and nuclear power industries. Flanders was founded in 1950 and is headquartered in Washington, North Carolina.
Victor Vescovo, COO & Managing Partner at Insight Equity, commented, “We are excited to invest in this growing industry and look forward to partnering with Flanders’ strong management team. We believe our hands-on collaborative approach will allow us to complement the team in several areas bringing additional growth and value to Flanders and its customers.”
“We are very happy to partner with Insight Equity. Together with Insight Equity, we look forward to increasing our levels of customer service, brand positioning and overall market leadership. This is a very exciting time to be with Flanders,” remarked Harry Smith, CEO of Flanders.
Brad Buser, a Vice President at Insight Equity who led the transaction team, stated, “We look forward to working together with the Flanders management team to sustain Flanders’ strong position in its multiple end markets and to grow the business through a continued focus on providing exceptional customer service and developing value-added products.”
About Flanders Corporation
Flanders Corporation (www.flanderscorp.com), together with its subsidiaries, engages in the design, manufacture, and sale of air filters and related products. The company offers residential heating and air conditioning filters under the Flanders Precisionaire brand; residential air cleaners; and industrial specialty filters. Flanders’ products are utilized by many industries, including those associated with commercial and residential heating, ventilation and air conditioning systems, semiconductor manufacturing, ultra-pure materials, biotechnology, pharmaceuticals, synthetics, nuclear power and nuclear materials processing. The company was founded in 1950 and is headquartered in Washington, North Carolina.
About Insight Equity
Insight Equity (www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.