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Donaldson Company, Inc. is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. The company designs and manufactures filtration systems and components for various applications, including air and liquid filtration, industrial processes, and life sciences. Donaldson's products are used in diverse sectors such as construction, mining, agriculture, transportation, power generation, aerospace, and medical devices.
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Mobile Solutions - Provides replacement filters for air and liquid filtration, filtration housings, and systems related to exhaust and emissions for OEMs in construction, mining, agriculture, and transportation, as well as independent distributors and OEM dealer networks.
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Industrial Solutions - Offers products for industrial air filtration, industrial gases, industrial hydraulics, power generation, and aerospace and defense, including dust collectors, compressed air purification systems, and filtration for industrial processes.
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Life Sciences - Supplies products for bioprocessing, food and beverage, medical devices, vehicle electrification, microelectronics, and disk drives, including bioprocessing equipment, chromatography devices, and specialized air and gas filtration systems.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Tod E. Carpenter ExecutiveBoard | Chairman, President, and CEO | Board Member at AMETEK, Inc.; Board of Advisors at Carlson School of Management | Joined DCI in 1996; became CEO in 2015 and Chairman in 2017; has held multiple leadership roles within DCI, including COO and SVP of Engine Products. | View Report → |
Amy C. Becker Executive | Chief Legal Officer and Secretary | None | Joined DCI in 1998; became Chief Legal Officer in 2022; has held various legal and compliance roles within DCI. | |
Andrew Dahlgren Executive | President, Mobile Solutions | None | Joined DCI in 1994; became President of Mobile Solutions in 2024; previously served as President of Life Sciences and held various leadership roles. | |
Guillermo Briseño Executive | President, Industrial Solutions | None | Joined DCI in 2003; appointed President of Industrial Solutions in 2022; has held multiple leadership roles, including VP of Latin America. | |
Richard B. Lewis Executive | President, Life Sciences | None | Joined DCI in 2002; became President of Life Sciences in 2024; previously served as President of Mobile Solutions and held various operational roles. | |
Scott J. Robinson Executive | Chief Financial Officer (CFO) | None | Joined DCI in 2015 as CFO; previously CFO at Imation Corp.; extensive experience in finance and investor relations. | |
Sheila G. Kramer Executive | Chief Human Resources Officer | None | Joined DCI in 2015; promoted to CHRO in 2022; previously held HR leadership roles at Taylor Corporation and Lifetouch, Inc.. | |
Thomas R. Scalf Executive | President, Enterprise Operations and Supply Chain | None | Joined DCI in 1989; became President of Enterprise Operations in 2024; has held numerous leadership roles, including SVP of Engine Products. | |
Ajita G. Rajendra Board | Director | Board Member at A. O. Smith Corporation and The Timken Company | Director at DCI since 2010; retired CEO and Chairman of A. O. Smith Corporation; extensive experience in manufacturing and global business leadership. | |
Christopher M. Hilger Board | Director | Chairman, President, and CEO of Securian Financial Group; Board Member at Federal Reserve Bank of Minnesota; Co-chair of St. Paul Downtown Alliance | Director at DCI since 2021; brings expertise in financial services and leadership from his role at Securian Financial Group. | |
Douglas A. Milroy Board | Director | None | Director at DCI since 2016; former CEO and Chairman of G&K Services; expertise in business-to-business organizations. | |
Jacinth C. Smiley Board | Director | Executive Vice President and CFO of Hormel Foods Corporation | Director at DCI since 2022; brings financial expertise from her role at Hormel Foods and past leadership roles at LyondellBasell and General Electric. | |
James J. Owens Board | Director | Board of Advisors at Carlson School of Management | Director at DCI since 2013; retired CEO of H.B. Fuller Company; extensive experience in adhesives and manufacturing industries. | |
Pilar Cruz Board | Director | Chief Sustainability Officer at Cargill; Board Member at World Food Program USA | Director at DCI since 2017; brings expertise in corporate strategy and sustainability; holds leadership roles at Cargill and World Food Program USA. | |
Richard M. Olson Board | Director | Chairman, President, and CEO of The Toro Company; Board Member at The Toro Foundation; Board of Advisors at Carlson School of Management | Director at DCI since 2022; brings leadership experience from The Toro Company, where he has held various executive roles since 1986. | |
Trudy A. Rautio Board | Director | Board Member at Securian Financial Group | Director at DCI since 2015; retired CEO of Carlson; brings expertise in global business and financial operations. | |
Willard D. Oberton Board | Lead Director | Board Member at Wincraft Inc. | Director at DCI since 2006; former CEO and Chairman of Fastenal Company; recognized as 2006 CEO of the Year by Morningstar. |
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Given the pretax loss of approximately $5 million in the Life Sciences segment due to continued investments and market challenges, can you elaborate on the specific actions you're taking to focus your expense structure, and how confident are you in achieving breakeven for the segment this fiscal year?
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With Off-Road sales down 6% due to sustained weak conditions in agriculture, and considering that the agriculture market continues to get tougher, what strategic initiatives are you implementing to mitigate this weakness, and when do you anticipate a potential inflection point?
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You mentioned that supply chain constraints in Aerospace and Defense are holding back seven-figure projects; can you provide more detail on these bottlenecks, the expected timeline for resolution, and how they might impact your full-year guidance for this segment?
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While Mobile Solutions aftermarket sales grew due to market share gains, you've indicated that Q2 is typically the toughest quarter and that vehicle utilization is steady; how do you plan to sustain growth in the aftermarket business during this seasonal slowdown, and are there risks to your full-year outlook if utilization rates decline?
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Free cash flow conversion was 47% in the quarter, below your full-year guidance of 85% to 95%; given ongoing investments in working capital and inventory, what measures are you taking to improve cash conversion in the coming quarters, and do you still expect to meet your full-year cash flow targets?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Medica S.p.A. | 2024 | In 2024, Donaldson acquired a 49% non-controlling stake in Medica S.p.A. for approximately €62.1 million in cash plus €5.1 million in capitalized costs, with an option to acquire the remaining 51% in four years; this move supports its Life Sciences strategy focused on bioprocessing and water purification through joint development efforts. |
Isolere Bio, Inc. | 2023 | Completed on February 17, 2023, the acquisition of Isolere Bio for $62.3 million (net of cash acquired) added innovative IsoTag™ reagents to enhance Donaldson’s Life Sciences portfolio and include detailed purchase price allocations for goodwill and intangible assets. |
Univercells Technologies (UTEC) | 2023 | In the fourth quarter of fiscal 2023, Donaldson acquired UTEC for €134.6 million (or $147.2 million), with significant goodwill and intangible assets recorded; this acquisition strengthens its Life Sciences segment with cutting‐edge biomanufacturing solutions for cell and gene therapy applications. |
Purilogics LLC | 2022 | Completed on June 13, 2022, for approximately $19.9 million in cash (with up to $29.0 million in contingent consideration), this acquisition leverages Purilogics’ novel membrane chromatography technology to enhance Donaldson’s Industrial and Life Sciences capabilities, with recognized goodwill and intangible assets adding strategic value. |
Solaris Biotechnology S.r.l. | 2021 | Acquired on November 22, 2021 for around €41 million (or $46.2 million), Solaris Biotechnology specializes in bioprocessing equipment, supporting Donaldson’s expansion in the Life Sciences market and aligning with its Industrial Filtration Solutions business despite modest standalone sales. |
Pearson Arnold Industrial Services (PAIS) | 2021 | Closed on November 1, 2021 for $4 million, the PAIS acquisition brought in a services business with nearly $4 million in annual revenue, complementing Donaldson’s Industrial segment by enhancing its service offerings alongside product innovations. |
No recent press releases or 8-K filings found for DCI.