All Filters, an online retailer of air and water filters, has hired boutique investment bank Montminy & Co. to explore a sale, said Shu Saito, CEO and sole owner.

The Salt Lake City-based company should begin sending teasers out later this month, Saito said.

This news service reported in March that All Filters was speaking with advisors and aiming to sell this year.

The company generated revenue of USD 20m in 2023, with an 8% EBITDA margin and at least 15% top-line growth projected this year, as reported.

Potential buyers were previously noted as large water treatment companies such as A.O. Smith [NYSE:AOS] and BDT Capital Partners-backed Culligan.

All Filters sells a variety of filters, including for air, water, refrigerators, pools and spas, and furnaces. Roughly 90% of sales are direct-to-consumer and the rest business-to-business.