EnPro Industries, an American industrial conglomerate, completed the acquisition of Alluxa, a manufacturer of high-performance optical filters and precision thin-film coatings, for $255m. The completion of this transaction supports EnPro’s strategy to focus the portfolio on materials science-based businesses with leading technologies, compelling margins, strong cash flow, and recurring revenue models that serve markets with favorable secular tailwinds where the company can apply the EnPro Operating System to enable continuous improvement. EnPro will continue to allocate capital, organically and inorganically, to drive growth in businesses with these characteristics with an overarching goal of maximizing long-term shareholder returns.