Celeros Flow Technology (Celeros FT) has finalised the sale of its Filtration business unit to London’s headquartered private equity firm, PX3 Partners (PX3). Celeros FT entered into a definitive agreement to sell its Filtration business in May and has reached this milestone with the sale effective from the first week of October. Celeros FT is held by funds managed by affiliates of Apollo.
Cleanova will be the new name for the filtration business. With the transaction now concluded, Celeros FT will remain focused on accelerating the strategic transformation of its leading flow control solutions through reinvestment in the business, its employees, and the pursuit of strategic acquisitions that complement its core strengths.
BofA Securities has served as a financial advisor, Ernst & Young has served as a tax advisor, and Eversheds Sutherland has served as legal counsel to Celeros Flow Technology on the sale of the Filtration business.
