v3.26.1
Acquisitions and Equity Method Investments
9 Months Ended
Apr. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Acquisitions and Equity Method Investments
Note 2. Acquisitions and Equity Method Investments
During the second quarter of fiscal 2026, the Company entered into a definitive agreement to acquire Filtration Group’s Facet Filtration business (Facet), consisting of Facet (Oklahoma) LLC and Facet Netherlands B.V., in an all-cash transaction valued at approximately $820 million. The acquisition closed on May 4, 2026 for cash consideration of $828.7 million. See Note 20 for additional details. Facet offers fuel and fluid filtration solutions for mission-critical applications primarily in aerospace and defense, as well as power generation. Headquartered in Tulsa, Oklahoma, Facet has approximately 250 employees across the U.S. and Europe with key manufacturing locations in Oklahoma and Spain.
On August 9, 2024, the Company acquired a 49% non-controlling stake in Medica, headquartered in Medolla, Italy, for cash consideration of approximately €62.1 million, or $67.9 million, and capitalized transaction costs of approximately €5.1 million, or $5.8 million. Medica is a leader in hollow fiber membrane filtration technology for medical applications and water purification. The Company has the option to acquire the remaining 51% stake in three years. The investment is accounted for under the equity method of accounting. The earnings from the investment were not material for the three and nine months ended April 30, 2026 or 2025.