Engine maker Cummins Inc. plans to sell its light-duty diesel and gasoline engine filtration operations to private equity firm Industrial Opportunity Partners, LLC, (IOP) for an undisclosed amount. Cummins said it plans to focus its resources on the needs of the medium- and heavy-duty engine market.
“Selling this part of our light-duty filtration operations to a strong buyer like IOP … allows us to concentrate on markets that are core to Cummins long-range growth plans,” noted Joseph Saoud, president of Cummins Filtration.
The sale affects Cummins’ Kuss Filtration business in Findlay, OH, and its filtration business at Bloomer, WI, along with Kuss operations in Sao Paulo, Brazil and Shanghai, China. Those operations are part of Cummins’ Filtration that specializes in filtration products for light duty diesel engines and smaller engines used in gasoline applications, including in-tank fuel filters.
Hasnain Merchant, a current Cummins executive, will become CEO of the new company, which will revive the name Kuss Filtration and be based in Findlay, OH.
During the transition period, Cummins said it will continue operating the business while working to ensure a smooth transition for customers, suppliers, employees and the communities where the businesses are located.
