Livingstone advises Equistone-backed SF-Filter AG on entry into the Italian market with a strategic add-on acquisition

Livingstone has again advised SF-Filter AG, a Switzerland-based portfolio company of Equistone Partners Europe, on continuing its growth trajectory with two further add-on acquisitions. The Swiss group is significantly expanding its position as a pan-European sales platform with the takeover of Filter Center, one of Italy’s largest independent wholesalers in the mobile and industrial filtration market. SF-Filter has also acquired Filter Agri, a start-up specializing in agricultural filter solutions. The terms of the transaction have not been disclosed.  

SF-Filter Group, headquartered in Bachenbülach, Switzerland, has evolved into a leading European provider of filter solutions for applications in the air, fuel, hydraulics, oil, and pneumatics sectors. With a broad product range and end customers, as well as resellers, 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. With the acquisition of the filter specialist Ostholte and the former sales partner Hermans Brems, both at the beginning of 2024, SF-Filter has strengthened its market position in Germany and Belgium, following the takeover of Busse & Kuntze in October 2023.

Italian Filter Center, headquartered near Parma, has been one of the largest independent providers of mobile and industrial filtration solutions in the Italian filter market since its foundation in 1992. Through the acquisition of Filter Center, SF-Filter has now secured direct access to the attractive and fast-growing Italian market. In addition, the acquisition will provide SF-Filter with Filter Center’s comprehensive expertise in the compressed air segment. The existing management team of Filter Center will continue to operate the local Italian business, and the employees will be fully retained. Filter Center will develop the SF-Filter brand in the Italian market, as well as strengthen the reseller business through intensified cooperation and by facilitating the roll-out of the SF-Filter service portfolio across Italy.

“With the acquisition of Filter Center as a market leader in Italy, we are opening up a new, extremely promising sales region for our group. Both companies have impressive synergies in their business models and Filter Center also brings extensive know-how in a sub-area of industrial filtration,” explained Daniel Infanger, CEO of the SF-Filter Group. “I’d like to thank Livingstone’s deal team for their very professional support and ongoing dedication which was decisive for the successful closing of the cross-border transaction. Johannes and Trim have again been pivotal to the continuation of our European buy-and-build growth initiative.”

Enrico Losa, Managing Director of Filter Center, said: “By integrating into the group, Filter Center gains access to the broadest product range in the industry, which creates new growth opportunities for our company. With the strong brand and excellent reputation of SF-Filter behind us, we are ideally positioned to further expand our market position.”

“The acquisition of Filter Center and Filter Agri is the second important market entry in Europe for SF-Filter that we have been able to advise on, following the acquisition of Hermans Brems in Belgium. The market entry in Italy is an important building block in strengthening the pan-European market position of the SF-Filter Group as a leading player in the field of filtration solutions. We would like to thank the management of SF-Filter and Equistone for their renewed trust and look forward to our exciting future cooperation,” added Johannes Faber, Partner at Livingstone Düsseldorf.

This is the third add-on transaction for SF-Filter Group that Livingstone has successfully advised on in the last 12 months. It is further evidence of Livingstone’s understanding and success in realizing planned growth strategies through structured buy-and-build add-on transactions for platform companies such as the Amadys Group, the vitronet Group, or the Andra Tech Group.