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Pumps Mergers & Acquisitions Review: Q2 2017

• Aspen Pumps expands with UK and French acquisitions.

• 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 seals Gestra sale

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.