Celeros FT Sells Filtration Business to PX3

Celeros Flow Technology (Celeros FT) has successfully finalised the sale of its Filtration business unit to PX3 Partners, a London-headquartered private equity firm. This strategic move, initiated through a definitive agreement in May, officially took effect on October 2, 2023. Celeros FT, managed by funds affiliated with Apollo, is now poised to advance its strategic vision as a global leader in new energy and defence solutions. The filtration business, now under new ownership, will be rebranded as Cleanova. Celeros FT is committed to focusing on the acceleration of its flow control solutions, reinvesting in its business, and workforce, and pursuing strategic acquisitions that align with its core strengths. Jose Larios, President and CEO of Celeros Flow Technology, expressed his pride in the accomplishments of the Filtration group's management team and employees, wishing them success as they embark on their journey under new ownership. He emphasised that this development allows Celeros FT to concentrate on providing top-tier engineered solutions with its pump, valve, and closure products, contributing to a secure, low-emissions energy future. Larios outlined Celeros FT's broader commitment to addressing environmental, societal, and governance challenges. He also expressed optimism about the industry's prospects, underlining the importance of dedicated, experienced teams in solving complex energy problems. He praised the dedication and experience within Celeros FT's brands and its global team members, positioning the company for sustained growth in the coming years. The transaction's success was attributed to the hard work of Celeros FT's teams, advisors, and business partners, according to Larios. BofA Securities served as the financial advisor, Ernst & Young as the tax advisor, and Eversheds Sutherland as legal counsel to Celeros Flow Technology during the sale of the Filtration business.