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Filtration Services Group Receives Stalking Horse Purchase Offer

National Industrial filtration company poised to emerge from Chapter 11 protection with new ownership

WATERFORD, Mich., Dec. 4, 2019 /PRNewswire/ -- Filtration Services Group (FSG), among the nation's leading filtration products and services companies and a prominent supplier to General Motors, has received a stalking horse offer to purchase the Company. The announcement was made by Keith Chulumovich, Chief Restructuring Officer.

If approved, FSG hopes to complete the transaction by the end of the year. It is expected that President Bob Jackson will assist with the transition as new ownership and management is put in place.

In August of 2019, FSG filed for Chapter 11 bankruptcy protection after the Company was unable to secure additional operational financing. In September, Keith Chulumovich of Bloomfield Hills, Michigan-based O'Keefe, a financial and operational management consulting firm, was appointed by the court as Chief Restructuring Officer.

"Filtration Services Group possesses a longstanding reputation of excellence within the industry, outstanding employees and a strong foundation for growth," said Chulumovich. "There has been significant interest in this Company due to its exceptional customer relationships and extensive product line."

FSG operates in a range of industry sectors including automotive, healthcare, hospitality and residential, with products and services for testing and preventative maintenance programs for HVAC and Air; Dust Collection; and Compressed Air, Liquid, Hydraulic, and Rolled Media.

Founded in 1972 and based in Waterford, Michigan, Filtration Services Group also has offices in Oklahoma City, Oklahoma.

For more information: www.Fsgfilters.com

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SOURCE Filtration Services Group (FSG)