The Swiss company is acquiring both Grayson Armature businesses - Grayson Armature Large Motor Division Inc (Houston) and Grayson Armature Orange Texas, Inc - for an enterprise value of US$42 million. Grayson Armature expects revenues of US$35 million in 2014.
With this acquisition, Sulzer will become one of the largest independent providers of electromechanical services in the Houston bay area.
Founded in 1980, Grayson Armature offers electromechanical repair services (at an in-house machine shop), remanufacturing, redesign, upgrades and modifications as well as other additional services. The company has facilities in Pasadena and Orange, Texas, USA. Grayson Armature’s customers are all major players in the oil and gas and power markets.
Peter Alexander, division president of Sulzer's Rotating Equipment Services, said: “Grayson Armature greatly enhances our electromechanical service competences in the Houston Bay Area. The acquisition will allow us to offer a full range of rotating services to the benefit of our customers. In addition, we expect both cost and sales synergies from relocating our existing pumps service centre in Houston to the Grayson site.”
