The deal, which valued the business at $231.5m, is expected to close before the end of the year, SWM said in a statement.
American Capital backed DelStar with a $115m investment in 2005.
DelStar currently has annual revenues of $110m from sales to customers in the US and Asia. Filtration products including reverse osmosis and other water filtration applications account for 70 per cent of the company’s revenues.
SWM chairman and CEO Frederic Villoutreix said, “The outlook for DelStar remains robust, with global demand for drinking water infrastructure expected to remain high for the foreseeable future.
“Further, the company has forged multiple relationships with other industrial and healthcare customers that bolster the growth outlook in these market segments.”
In August this year American Capital sold its stake in Pan Am Holdings to All Nippon Airways’ parent company ANA Holdings for $139.5m.
Copyright © 2013 AltAssets