Truelink Capital Signs Definitive Agreement to Sell Koch Filter Corporation, a Subsidiary of Air Distribution Technologies, to Atmus Filtration Technologies

Rhea-AI Summary

Truelink Capital agreed to sell Koch Filter Corporation, a subsidiary of Air Distribution Technologies (ADTi), to Atmus Filtration Technologies (NYSE: ATMU) for $450 million in cash. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions. Koch Filter, founded in 1966, manufactures pleated, high-efficiency, and HEPA filters with U.S. plants in Louisville, KY; East Greenville, PA; Houston, TX; and Mira Loma, CA. Truelink and ADTi cited strategic portfolio focus for ADTi and said the sale will position Koch Filter to grow under Atmus with continued operational investment. Lincoln International, Benesch, and Jefferies are advising on the deal.

Positive

• $450 million all-cash purchase price
• Koch Filter operates 4 U.S. manufacturing sites
• Sale enables ADTi to refocus on engineered air distribution
• Atmus commits to resources and operational support for Koch Filter

Negative

• Transaction is subject to customary closing conditions, not closed yet

Insights

M&A Strategist

Definitive sale of Koch Filter for $450 million is a clear, material M&A event with near-term closing set for Q1 2026.

The transaction transfers ownership of Koch Filter — a manufacturer of pleated, high-efficiency, and HEPA filters with four U.S. plants — from Truelink/ADTi to Atmus Filtration Technologies (ATMU) for $450 million in cash. The deal structure and cash consideration are explicit and create a discrete liquidity event for Truelink and ADTi while consolidating a nationwide independent filtration platform under Atmus.

Key dependencies and risks include satisfaction or waiver of customary closing conditions before the announced Q1 2026 close and any integration steps Atmus must execute after closing. The public disclosures name financial and legal advisors, which indicates executed advisory processes but do not disclose financing terms or regulatory approvals.

Watch for the closing confirmation and any disclosed financing or regulatory conditions between now and Q1 2026. Near-term items to monitor: definitive closing notice, any required regulatory filings or approvals, and management commentary on integration plans post-close.

Strategic Operations Analyst

Sale creates a strategic portfolio refocus for ADTi and an ownership shift for Koch Filter under Atmus, with operational implications to follow.

Truelink and ADTi will exit ownership of Koch Filter while Atmus acquires a manufacturing footprint in Louisville, East Greenville, Houston, and Mira Loma. The press release states the acquisition aims to provide Koch Filter with resources under Atmus and allows ADTi to concentrate on engineered air distribution solutions.

The principal operational dependencies are integration planning, retention of the Koch Filter management and workforce, and execution of stated commitments to innovation and operational excellence under new ownership. The release does not provide cost synergies, financing details, or employment guarantees, so those remain unknown.

Monitor post-close communications on workforce retention, capital investment plans for the named manufacturing sites, and any disclosed synergies or financing arrangements within the first few quarters after the Q1 2026 close to assess operational impact.

LOS ANGELES and LOUISVILLE, Ky., Nov. 24, 2025 /PRNewswire/ -- Truelink Capital ("Truelink"), a Los Angeles-based private equity firm focused on growth and long-term value creation, announced today that it has entered into a definitive agreement to sell Koch Filter Corporation ("Koch Filter"), a leading provider of air filtration solutions and a subsidiary of Air Distribution Technologies, Inc. ("ADTi" or "Air Distribution Technologies"), to Atmus Filtration Technologies Inc. [NYSE: ATMU] ("Atmus Filtration Technologies" or "Atmus") for $450 million in cash. The transaction is expected to close in the first quarter of 2026, subject to the satisfaction or waiver of customary closing conditions.

Founded in 1966, Koch Filter designs and manufactures air filtration products serving a broad set of commercial markets. The company offers an end-to-end portfolio of highly consumable products including pleated filters, high efficiency filters, and HEPA filters that are used for a diverse set of applications. With manufacturing operations in Louisville, KY, East Greenville, PA, Houston, TX, and Mira Loma, CA, Koch Filter is one of the only nationwide independent scaled platforms in the air filtration space. The sale of Koch Filter will allow for the continued strategic growth of the company as Atmus' commitment to innovation and operational excellence ensures that Koch Filter's team will have the resources and opportunities to thrive, while continuing to deliver value to customers and partners.

"This transaction is a significant milestone for both Koch Filter and ADTi," said Todd Golditch, Co-Founder and Managing Partner of Truelink. "This sale is a testament to the strength of our investment and value creation strategy and aligns with our long-term vision for ADTi to strategically focus their portfolio around engineered air distribution solutions, while enabling Koch Filter to thrive with Atmus. We are proud to have partnered with and invested behind Mark Mattingly and the rest of Koch Filter's management team and look forward to their continued success under new ownership."

"I am incredibly proud of what our team has built at Koch Filter over the last year with Truelink," said Mark Mattingly, CEO of Koch Filter. "Given all the recent investments we have made in our business, we are well positioned to accelerate our growth and continue delivering innovative, high-quality filtration solutions to the market. Joining Atmus will mark an exciting new chapter for our business, our employees, and our customers."

"This transaction marks an exciting new chapter for ADTi as well," said Doug Schuster, Chief Executive Officer of ADTi. "We are thankful to have had the opportunity to work alongside Mark and his team and now turn our full focus and attention to the ADTi platform where we will continue to create value by driving efficiencies and growth – both organically and via M&A – across our three key business units: Air Control Solutions, Air Movement Solutions, and Air Distribution Solutions."

Lincoln International is serving as the exclusive financial advisor to Truelink and ADTi for the transaction. Benesch is serving as the legal advisor and Jefferies LLC is serving as the financial advisor to Atmus

ABOUT TRUELINK CAPITAL
Truelink Capital is a middle-market private equity firm based in Los Angeles. Truelink pairs deep industry experience in the industrials and business services sectors with a commitment to building partnerships that drive long-term value through an operationally focused strategy. Truelink partners with management, corporate sellers, and founders to accelerate growth through the execution of strategic initiatives and transformative add-on acquisitions. Learn more at: www.truelinkcap.com.

ABOUT AIR DISTRIBUTION TECHNOLOGIES
Air Distribution Technologies is an industry leader in the design and manufacture of a comprehensive suite of top performing products supporting the HVAC ecosystem. Its portfolio contains many well-recognized brands in the space serving a diversified customer base. The company was acquired by Truelink Capital in 2024 through a corporate carve-out from Johnson Controls International plc. Learn more at: www.airdistribution.com.

ABOUT KOCH FILTER
Koch Filter is a world-class manufacturer of air filtration products, including pleated filters, high efficiency filters, and HEPA filters for commercial, industrial, and specialty applications. Koch Filter is recognized for its innovation, product quality, and commitment to enhancing indoor air quality in critical environments. Learn more at: www.kochfilter.com.

ABOUT ATMUS FILTRATION TECHNOLOGIES INC.
Atmus Filtration Technologies is a global leader in filtration and media solutions. With a presence on six continents, Atmus serves customers across truck, bus, agriculture, construction, mining, marine and power generation vehicle and equipment markets, along with providing comprehensive aftermarket support and solutions. Headquartered in Nashville, Tennessee (U.S.), Atmus employs approximately 4,500 people globally who are committed to creating a better future by protecting what is important. Learn more at: www.atmus.com.

Media Contacts
Peter Lewis
plewis@truelinkcap.com
Truelink Capital

View original content to download multimedia:https://www.prnewswire.com/news-releases/truelink-capital-signs-definitive-agreement-to-sell-koch-filter-corporation-a-subsidiary-of-air-distribution-technologies-to-atmus-filtration-technologies-302624590.html

SOURCE Truelink Capital

FAQ

What did Atmus (ATMU) announce on November 24, 2025 regarding Koch Filter?

Atmus agreed to acquire Koch Filter from Truelink/ADTi for $450 million in cash, with closing expected in Q1 2026 subject to conditions.

How much is Atmus (ATMU) paying for Koch Filter and is it cash or stock?

Atmus is paying $450 million in cash for Koch Filter.

When is the Atmus (ATMU) acquisition of Koch Filter expected to close?

The deal is expected to close in the first quarter of 2026, subject to customary closing conditions.

What manufacturing locations does Koch Filter have that Atmus (ATMU) will acquire?

Koch Filter has manufacturing operations in Louisville KY, East Greenville PA, Houston TX, and Mira Loma CA.

How will the sale affect Air Distribution Technologies (ADTi) strategy?

ADTi said the sale allows it to strategically focus its portfolio on engineered air distribution solutions and pursue growth across its business units.

Who advised on the Atmus (ATMU) acquisition of Koch Filter?

Lincoln International advised Truelink and ADTi, Benesch served as legal advisor, and Jefferies LLC advised Atmus.