KRR closes Circor acquisition

Investment firm KKR has completed its acquisition of Circor International Inc, the parent company of pump brands Allweiler, Houttuin, Imo, Tushaco, Warren Pumps and Zenith.

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As a result, Circor is no longer listed on the New York Stock Exchange.

Circor provides flow control products and services, including pumps, valves and motors, for the industrial and aerospace and defense markets.

KKR entered into a definitive agreement to acquire Circor earlier this year.

KKR’s exceptional track record in the flow control space and commitment to invest in employees makes them a perfect strategic partner for our future,” said Tony Najjar, president and CEO of Circor. We look forward to working with KKR as we continue to grow, innovate, and improve Circor for the benefit of our customers.”

Dan Daniel will now become chair of Circor. Daniel has three decades of experience leading US industrial companies. Prior to becoming a KKR executive advisor, he served as executive vice president at Danaher, where he oversaw the Industrial Technologies, Life Sciences, Diagnostics and Dental segments.

“I am honored to be joining the board of Circor as chair and admire the company for its leadership in the flow control space,” said Daniel. “I look forward to working with Circor’s talented team to take the business to new heights as a private company.”

KKR will also support Circor in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies.