A big business based in Beaufort County is getting sold. Flanders Filters of Washington has agreed to be acquired by an affiliate of Insight Equity.
Flanders is one of the largest manufacturers of air filters and similar products in North America.
The transaction is valued at $192 million.
The deal must be approved by Flanders Filters share-holders, which the company's board of directors says they will recommend the share-holders do. If the agreement goes through as is, Flanders shareholders will receive $4.40 per share in cash for each share of Flanders common stock.
We have reached out to Flanders Filters officials for more information on what the sale means for their workforce. In 2010. Flanders was listed as the fourth largest employer in Beaufort County, according to the Beaufort County Economic Development Commission. The commission says their records show Flanders Filters employs 609 people in the Washington area.