Windsor fuel-systems maker Stanadyne Corp. said it has reached an agreement to sell its filtration business to Clarcor Inc. for $325 million.
The sale to Clarcor, which is based in Tennessee, includes Stanadyne’s filter manufacturing facility in North Carolina and engineering and administrative operations in Windsor.
Stanadyne did not disclose whether or not those operations will remain in the area. The Hartford Business Journal has reached out to the company for comment.
It’s the second major news in the past week from companies backed by private equity investor James A. Kohlberg. Kohlberg Ventures is a backer of ClearEdge Power in South Windsor, and Kohlberg & Co. owns Stanadyne through its affiliated funds.
Stanadyne said it would use the sale proceeds to retire debt and pay transaction expenses. It expects the deal to close in May.
