Donaldson Company Buys Purilogics; To Pay $20 Mln Initially

(RTTNews) - Donaldson Company, Inc. (DCI), a filtration solutions provider, on Tuesday announced the acquisition of Purilogics, LLC, an early-stage biotechnology firm, for an initial sum of around $20 million as well as milestone payments over the next five years.

Tod Carpenter, CEO of Donaldson, said: "We are excited about the value Purilogics brings to the Donaldson life sciences portfolio through its novel and differentiated products. Our membrane technology expertise, and global sales and manufacturing footprint, will enable faster development and commercialization of these powerful tools for biologics purification."

Once acquired business commercialized, revenue from Purilogics' products will be reported within the Donaldson Industrial Filtration Solutions business in the Industrial Products segment.

Founded in 2013 by Jinxiang Zhou and Scott Husson, Purilogics is headquartered in South Carolina.