Unifrax, a global provider of specialty materials focused on thermal management, specialty filtration, battery materials, emission control and fire protection applications backed by Clearlake Capital Group LP, has completed its acquisition of Lydall Inc. (NYSE: LDL), a provider of the design and production of specialty filtration materials and advanced material solutions. The combined company will be led by John Dandolph as president and chief executive officer.
“The transition to a greener, cleaner, and safer world is the challenge of our lifetime,” said Dandolph. “The Unifrax-Lydall combination creates a one-of-a-kind specialty materials platform capable of driving transformative impact in the spaces we all care about, areas including fossil fuel reduction, improved energy storage, and cleaner air. With our expanded portfolio and nearly doubled global footprint, we are poised to deliver even more cutting-edge, market-leading products and innovation to customers around the world. We’re just getting started, and we’re excited about the opportunities ahead.”
“We’re proud to support a company that is dedicated to developing solutions for a cleaner, more sustainable society,” said José E. Feliciano, co-founder and Managing Partner at Clearlake, and Colin Leonard, partner at Clearlake, in a joint statement. “The addition of Lydall’s people, technologies, and assets to the Unifrax portfolio creates a true market leader. With the support of Clearlake’s O.P.S. framework, we are confident that Unifrax will continue to grow strategically both organically and through acquisitions, while shaping the future of the industry.”