APRIL 6–ST. LOUIS, Mo.–ESCO Technologies Inc., a supplier of engineered filtration products to the process, health-care and transportation industries, has sold two of its three microfiltration and separations businesses to Domnick Hunter Group PLC of London for $18 million in cash.
PTI Advanced Filtration Inc. in Oxnard, Calif., and PTI Technologies Ltd. in Sheffield, England, were sold to Domnick Hunter, which designs and manufactures filtration, purification and separations equipment. ESCO plans to use the proceeds from the sale for general corporate purposes, including potential acquisitions.
ESCO said it plans to sell the remaining Microfiltration and Separations business, PTI S.p.A., of Milan, Italy, by the end of the year.