Donaldson Enters into Agreement to Acquire Minority Stake in Medica, S.p.A.

Donaldson Company, Inc. (NYSE: DCI) (Donaldson or the Company), a leading worldwide provider of innovative filtration products and solutions, today announced it has entered into a definitive agreement allowing the Company to purchase a 49% stake in Medica S.p.A. (Medica). Medica is a leader in hollow fiber membrane filtration technology for medical device applications and water purification. Headquartered in Medolla, Italy, the Company has over 700 employees globally and generated €80 million of revenue in calendar 2023.

Founded in 1985, Medica’s innovative hollow fiber membrane filtration products are used for blood purification in numerous applications including dialysis, continuous renal replacement therapies (CRRT), and therapeutic apheresis. The Company’s products and technologies are also used in the microbiological purification of water, as well as automation solutions for disposable medical device manufacturing.

“Hollow fiber membrane filtration is a fundamental filtration technology and Medica’s proprietary technology and expertise, along with their world-class manufacturing capabilities has enabled delivery of innovative, high-margin products to customers in several markets,” said Tod Carpenter, chairman, president and chief executive officer of Donaldson.

The acquisition is subject, inter alia, to the positive outcome of the voluntary totalitarian tender offer on the ordinary shares of Medica, which MavenDanc S.r.l., an Italian company entirely owned by Donaldson, formally announced to the market on the date hereof by way of publication of the communication required by article 102, paragraph 1, of Legislative Decree n. 58 of 24 February 1998 (as amended from time to time) (the "102 Notice"). Copy of the 102 Notice is available to the public on Medica website at www.medica-spa.com. Upon positive outcome of the tender offer, Donaldson will acquire a 49% stake of Medica with the option to acquire the remaining 51% stake in the future. Completion of the transaction is expected by the third quarter of calendar 2024. Upon closing, the ratable share of Medica’s earnings would be included as a part of the Donaldson Life Sciences segment.