Acquisition complements 3M’s core filtration technologies platform
3M is to purchase Polypore International’s Separations Media business for US$1bn.
The business, based in Charlotte, NC, US, is a provider of microporous membranes and modules for filtration in the life sciences, industrial and speciality segments. The company reported sales of $210m as of 27 September 2014.
Separately, Asahi Kasei has entered into a merger agreement to acquire Polypore’s Energy Storage business.
Both transactions are subject to regulatory approvals and customary closing conditions. In addition, they are conditional on 3M’s transaction with Polypore closing immediately prior to the closing of Asahi Kasei’s deal.
Filtration is a priority technology platform for 3M and the addition of Polypore’s Separations Media business will add new technology capabilities to complement the company’s existing filtration business in life sciences, industrial, water treatment, electronics and foodservice.
‘The combination of 3M and Polypore’s Separations Media business will help us to meet customers’ emerging needs for high-value filtration solutions,’ said Michael Roman, Executive Vice President, 3M Industrial Business Group. ‘Together, we will be able to offer a broader array of products to both Polypore’s and 3M’s customers, which will accelerate the global growth of our membrane business.’