Private equity firm May River Capital, together with Longview Asset Management and Knox Capital Holdings LLC, have merged Stancor LP with BJM Pumps LLC.
The merged businesses will be part of May River Capital portfolio company Industrial Flow Solutions, which specialises in the design, manufacturing, sales and service of pumping and fluid management solutions for harsh, rugged environments.
Founded in 1985, Stancor designs and manufactures electric submersible pumps and pumping controls systems for applications in the mining, utility, commercial construction and wastewater industries. Headquartered in Monroe, Connecticut, Stancor has a satellite manufacturing site in Prospect, Connecticut.
BJM Pumps, which was acquired by May River Capital in 2017, is based in Old Saybrook, Connecticut, and manufactures, sells and services submersible pumps used in industrial and municipal dewatering and wastewater applications. BJM’s products are designed for harsh operating environments with heavy solids, abrasives, high temperatures and chemically corrosive fluids.
“These two companies offer differentiated yet complementary products and technologies that will benefit the other,” said Chris Stevens, CEO of Industrial Flow Solutions. “We look forward to bringing the strengths of both organizations to bear in the market and accelerate our ability to solve customer problems with their wastewater and pumping challenges.”
“I look forward to building upon the strong foundations we’ve laid at Stancor and BJM to extend our reach to new customers and markets. I’m especially excited to work with the BJM and IFS teams to build a powerful new business,” said Bill Tipton, who will lead the combined companies in Connecticut as president.