Insight Affiliate Forks Over $192M For Air Filter Maker

Law360, New York (March 20, 2012, 3:42 PM EDT) -- An affiliate of private equity firm Insight Equity Holdings LLC has inked a $192 million deal to acquire Flanders Corp., one of the largest manufacturers of air filters and air-handling and air-containment systems in North America, Flanders said Monday.

Air Acquisition Holdings LLC will pay $4.40 per share, in cash, for Flanders' outstanding common stock, representing a premium of 39 percent over Flanders' average closing price of $3.17 during the 30-day period that ended March 16, according to a statement the manufacturer issued Monday.

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