Danish engineering group FLSmidth & Co. said Monday it agreed to sell its Air Pollution Control business to UK-based investment firm Rubicon Partners, the final step in its transformation into a company focused solely on the mining industry.
The move comes just over a week after FLSmidth announced the divestment of its much larger Cement business to an affiliate of Pacific Avenue Capital Partners.
The company had retained the air pollution unit from that earlier deal to pursue a separate sale process, which it said is now concluded.
The transaction with Rubicon Partners includes all related assets, intellectual property, employees and order backlog, according to the company.
FLSmidth said it expects the deal to close in the second half of 2025 and to realize a small net gain from the sale.
The company also stated the transaction does not change its financial guidance for the full year 2025.
According to the announcement, FLSmidth has been gradually divesting businesses related to air pollution control since 2020.
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