Ingersoll-Rand plc made a binding offer to acquire Precision Flow Systems (PFS) from funds advised by BC Partners Advisors LP and The Carlyle Group in a US$1.45 billion deal.
SPX Flow Inc announced plans to narrow its strategic focus on process solutions and divest its Power and Energy business.
The main pump-related M&A transactions in the first three months of 2019 are listed here – including deals for Atlas Copco, AxFlow, Pentair, Franklin Electric, Ingersoll-Rand, Weir, United Rentals, Wangen and ITT – with links to the original stories on www.worldpumps.com.
ITT Inc signs an agreement to acquire the Rheinhütte Pumpen Group from Belgium’s Aliaxis Group SA.
Ingersoll-Rand plc is to spin off its Industrial segment (Ingersoll Rand Industrial) and combine it with Gardner Denver Holdings Inc, creating an industrial company (IndustrialCo) valued at approximately US$15 billion.
Dover Corp has sold Finder Pompe Srl to Italy’s Gruppo Aturia SpA.
Grundfos delivered a 4.2% increase in 2018 net turnover to reach a record DKK26.7 billion.
A partnership between Mitsubishi Heavy Industries Ltd (MHI) and Weir Engineering Services Ltd (WES) has been awarded a contract by Nuclear New Build (NNB) to design, manufacture and test 34 pumps for Hinkley Point C, the UK’s first new nuclear power plant in 25 years.
The Weir Group plc has entered into an agreement to sell its Flow Control division to private equity investment firm First Reserve for an enterprise value of £275 million.
John Crane has bought the Industrial Division of Advanced Diamond Technologies (ADT). Based in Romeoville, Illinois, USA, ADT specialises in the development of diamond films for industrial, electronic, mechanical and medical applications.