Lydall Acquires Affinity Industries
October 26, 2001
Lydall, Manchester, Conn., purchased substantially all assets and assumed certain limited liabilities of Affinity Industries, a privately held thermal control equipment manufacturer in Ossipee, N.H. for $21.7 million. Affinity, which employs approximately 100 people, experienced sales growth over the past four years at a compound average annual rate close to 26 percent and consistently has been profitable. According to Lydall, the Affinity acquisition is the initial product of extensive research and analysis and represents the first step in its strategy to broaden its industrial thermal focus in value segments of high growth markets.