Insight Taking Flanders Private for $192M

Insight Equity has agreed to acquire air filtration product manufacturer Flanders (NASDAQ: FLDR) in a transaction valued at approximately $192 million. Under the terms of the agreement, company shareholders will receive $4.40 per share in cash. PNC Bank will provide a senior revolving credit facility, and FS Investment will provide unitranche and mezzanine debt financing as well as equity financing in support of the transaction.