Pacific Avenue Capital Partners, a Hermosa Beach-based private equity firm, has acquired the filtration business from Milan, Italy-based Sogefi S.p.A.

As part of the transaction, the filtration business has been renamed Purflux. 

The company manufactures vehicle filter parts and systems; its customers are automotive repair shops and original equipment manufacturers. 

According to Pacific Avenue’s founder and managing partner, Chris Sznewajs, this is the firm’s first transaction in the automotive space. The deal was announced last month. 

“We’re excited about it because it gives us the potential to take a business that plays within internal combustion engines and has a very clear product roadmap to participate and win as cars move to electric vehicles,” Sznewajs said.

Purflux focuses primarily on the automobile aftermarket; it products are sold at AutoZone and other similar outlets. 

Its current management team, headquartered in Paris, will stay in place amid the acquisition.

“This is an exciting acquisition for Pacific as we continue to expand into Europe,” said Julien Grange, chief executive of Purflux. “Pacific Avenue has positioned itself as a trusted partner to corporate sellers globally ensuring seamless transitions regardless of transaction complexity.”

Pacific Avenue focuses on corporate carveouts and divestitures, and Sznewajs said an investment bank reached out to the firm to close what he described as a “very complex” carveout from Sogefi. 

Purflux reported $600 million in revenue last year. Almost two-thirds of its business resides in Europe, while North America accounts for 20%.  

Pacific Avenue acquired the company through its inaugural fund – an oversubscribed $500 million fund that closed in May. The financial terms of the deal were not disclosed.