Standex to sell Procon Pumps

Standex International Corporation is selling its Procon Pumps business to Investindustrial, a European investment and advisory group, in a US$75 million deal.

Image: Tim/Adobe Stock.

Procon is a global supplier of niche positive displacement rotary vane and gear pumps to OEMs, distributors and end-use customers. The company has manufacturing plants in Mexico, Ireland, Australia and Japan. In fiscal 2022, Procon’s net revenues were US$33.7 million.

Investindustrial’s portfolio of companies includes CEME Group, which manufactures solenoid pumps, rotary pumps and solenoid valves in Italy and around the world.

“After a thorough competitive process, we are pleased to announce the sale of our Procon business to Investindustrial,” said David Dunbar, president & CEO of Standex. “We believe CEME Group is well-placed to enable the Procon business to grow and reach its strategic potential.”