• Franklin Electric expands in groundwater distribution with the acquisition of 3 US companies
Franklin Electric Co Inc is acquiring controlling interests in three distributors in the US professional groundwater market – 2M Co Inc of Billings, Montana; Western Hydro Holding Corp of Hayward, California; and Drillers Service Inc (DSI) of Hickory, North Carolina – for approximately US$89 million in the aggregate, including assumed debt.
• Nikkiso to acquire Cryogenic Industries
Nikkiso Co Ltd entered into an agreement to acquire the business and trademarks of California, USA-based Cryogenic Industries Inc, including ACD LLC, Cosmodyne LLC, Cryoquip LLC and Cryogenic Industries AG and their 18 subsidiaries, in a deal valued at around US$438 million.
• Atlas Copco completes Itubombas acquisition
Atlas Copco finalized its acquisition of the Brazilian pump rental business Itubombas Locação Comércio Importação e Exportação Ltda.
• Pentair closes sale of Valves & Controls business
Pentair plc completed the sale of its Valves & Controls business to Emerson Electric Co in a US$3.15 billion deal.
Flowserve Corp sold its Gestra AG business unit to Spirax-Sarco Engineering plc. Gestra, which is headquartered in Bremen, Germany, specializes in the design and production of valves and control systems for steam and fluid process control.
• Spirax-Sarco Engineering to acquire Chromalox in US$415mn deal
Spirax-Sarco Engineering plc entered into an agreement to acquire thermal technologies company Chromalox Inc from Irving Place Capital for a cash-free, debt-free consideration of US$415 million. Chromalox is a US-based provider of electrical products, systems and solutions for industrial process heating and temperature management.
• Weir to acquire KOP Surface Products from Akastor
The Weir Group plc is acquiring oil and gas technology provider KOP Surface Products from Norway’s Akastor ASA for US$114 million in cash. Singapore headquartered KOP designs and manufactures wellheads, surface trees, valves and actuators and provides aftermarket services.
• CMP Capital and MSD Partners to buy pool pump manufacturer Hayward Industries
A partnership led by CCMP Capital Advisors LP and MSD Partners LP and including Alberta Investment Management Corp, entered into a definitive agreement to acquire pool equipment manufacturer Hayward Industries Inc.
• Aspen Pumps expands with UK and French acquisitions
Condensate pump manufacturer Aspen Pumps Ltd purchased air conditioning and refrigeration (ACR) tool specialist Javac UK and Salina SAS, a French distributor of air-conditioning and refrigeration ancillaries.
First quarter 2017 mergers and acquisitions are listed here.