The proceeds from the divestiture will be used to pay down debt and position Ceco’s balance sheet for future strategic growth investments.
Todd Gleason, Ceco’s chief executive officer, said: “The announced process to divest our Fluid Handling business has yielded strong interest among well-positioned leaders in the market, and we expect to complete the divestiture in late Q1. While our Fluid Handling business is very well positioned in its markets, we are laser focused on businesses that more closely align with our strategic investments and leadership positions in air, water and energy transition.”
