Download - Mergers & Acquisitions Review 2012

Transcript
Page 1: Mergers & Acquisitions Review 2012

12Pump Industry Analyst February 2013

MERGERS & ACQUISITIONS REVIEW

Mergers & Acquisitions Review 2012

Third quarter 2012

Company Activity CommentPompetravaini SpA Entered into a share purchase agreement to acquire an 80% stake in

NSB Gas Processing AG, a Swiss manufacturer of API liquid ring compressors and liquid ring vacuum pumps and associated systems (see Pump Industry Analyst, July 2012).

NSB complements the Pompetravaini product range.www.pompetravaini.it and www.nsbgas.com

Ultimate Vacuum ApS

Joined the AES Group. Ultimate Vacuum will now be renamed AESPUMP ApS (see Pump Industry Analyst, July 2012).

The acquisition is part of the continued expansion of the AESPUMP brand within AES.www.aespump.com

National Oilwell Varco Inc

Completed the acquisition of Canadian oilfield equipment supplier CE Franklin Ltd in a C$239 million deal (see Pump Industry Analyst, July 2012). CE Franklin distributes oilfield supplies, including progressing cavity (PC) pumps.

The addition of CE Franklin to NOV’s Canadian distribution operations will broaden the product offering and customer base.www.nov.com and www.cefranklin.com

Kaman Industrial Technologies Corp (KIT)

Acquired Florida Bearings Inc, a distributor of bearings, power transmission and pump products (see Pump Industry Analyst, July 2012).

The acquisition of Florida Bearings gives KIT a strong position in central and southern Florida and increases its exposure to key end markets.www.kaman.com and www.floridabearings.com

National Oilwell Varco Inc

Announced plans to buy Robbins & Myers Inc in a US$2.5 billion deal (see Pump Industry Analyst, August 2012).

In acquiring Robbins & Myers, National Oilwell Varco will significantly increase its pump operations, adding the Moyno and Tarby progressing cavity pump businesses to a pump portfolio that already includes Bear, GASO, Halco, Mono, Omega and Wheatley.www.nov.com and www.robbinsmyers.com

HMS Group Sealed the acquisition of Apollo Goessnitz GmbH (see Pump Industry Analyst, August 2012). HMS Group paid E25 million for 75% of the German centrifugal pump maker’s share capital. Apollo Goessnitz’s management will retain a 25% stake in the company.

This is the second acquisition that HMS completed in 2012.www.hms.ru and www.apollo-goessnitz.de

AES Group Purchased James Walker Pump and Valve in Holland, a specialist company providing supply and repair activities (see Pump Industry Analyst, August 2012).

The acquisition is part of the continued expansion of the AESPUMP brand and follows the recent acquisition of Ultimate Vacuum ApS. www.aespump.com

Franklin Electric Co Inc

Bought US pump starter, control and drive manufacturer Cerus Industrial Inc in a US$25.7 million cash deal (see Pump Industry Analyst, August 2012).

The Cerus acquisition will increase Franklin Electric’s technical and product development capacity, broaden its product line, reduce its manufacturing costs and move the pump manufacturer into an adjacent market area.www.franklin-electric.com and www.cerusind.com

Fourth quarter 2012

Company Activity CommentPentair Inc Merged with Tyco International Ltd’s Flow Control business, creating

Pentair Ltd (see Pump Industry Analyst, October 2012).While Pentair Ltd is incorporated in Switzerland, its main US offices remain in Minneapolis, Minnesota, where Pentair Inc was headquartered. www.pentair.com

CRI Pumps Pvt Ltd Signed a business transfer agreement with Pumps & Process Systems Ltd to acquire the Glasgow, UK-based company’s pumping solutions operations (see Pump Industry Analyst, October 2012).

This agreement expands CRI Pumps’ industrial pumping solutions for pulp, slurry and chemical handling.www.cripumps.in

Tsurumi Europe Brought Spain and Portugal into its direct sales network, by acquiring its dealerships in both countries - Hydreutes SA in Spain and Hidrovento Lda in Portugal (see Pump Industry Analyst, October 2012).

This gives Tsurumi Europe direct access to customers in five countries: France, Germany, Portugal, Spain and Sweden.www.tsurumi.eu and www.tsurumipump.co.jp

In the second part of Pump Industry Analyst’s review of 2012’s pump-related mergers & acquisitions, we highlight the deals that took place during the third and fourth quarters of the year. First and second quarter mergers &

acquisitions were featured in the January 2013 issue of Pump Industry Analyst.

Page 2: Mergers & Acquisitions Review 2012

February 2013 Pump Industry Analyst13

MERGERS & ACQUISITIONS REVIEW

Company Activity CommentLiebherr Group Added concrete pump manufacturer Waitzinger Baumaschinen GmbH to its

portfolio (see Pump Industry Analyst, October 2012). Based in Neu-Ulm, Germany, Waitzinger specialises in the development and production of truck-mounted concrete pumps, trailer concrete pumps and truck mixer concrete pumps.

Liebherr intends to expand the concrete pump product range and further improve its international competitive position in the concrete technology sector.www.liebherr.com and www.waitzinger.de

Taco Inc Purchased Fairview, Tennessee, USA-headquartered Hydroflo Pumps, a manufacturer of vertical and submersible turbine driven pumps (see Pump Industry Analyst, October 2012). Hydroflo’s pumps, which come with investment cast steel impellers and ductile iron discharge heads, are used in agricultural irrigation, mining operations, municipal water systems and HVAC.

The deal opens up new markets for Taco and allows the company to invest in Hydroflo to boost its pump technology and increase its business in all of the markets it serves.www.taco-hvac.com and www.hydroflopumps.com

WPIL Ltd Acquired India’s Mody Industries (FC) Pvt Ltd, owner of Mody Pumps. Mody specialises in submersible pumps for dewatering and wastewater applications.www.wpil.co.in and www.modyindustries.com

Xylem Inc Expanded in dewatering with the acquisition of privately-held Heartland Pump Rental & Sales Inc in a US$29 million deal (see Pump Industry Analyst, November 2012).

Dewatering is a strategic growth market for Xylem, building on the company’s existing capabilities in emergency water removal, bypass, drainage and industrial applications. www.xyleminc.com and www.heartlandpump.com

Gorman-Rupp Africa Proprietary Ltd (G-R Africa)

Bought long-time South African pump distributor Pumptron (see Pump Industry Analyst, November 2012).

The acquisition of Pumptron will accelerate Gorman-Rupp’s presence in South Africa and serve as a platform for future growth in the sub-Sahara Africa region.www.gormanrupp.com

United Technologies Corp

Divested pump makers Milton Roy Co and Sundyne Corp to private equity firm BC Partners and global alternative asset manager The Carlyle Group in a US$3.46 billion deal that included Sullair Corp (see Pump Industry Analyst, December 2012). The stand-alone Hamilton Sundstrand Industrial business has been rebranded as Neodyne Industries.

With Flow Control as one of Neodyne Industries’ two strategic platforms, pumps and the Milton Roy and Sundyne businesses are a core part of the newly independent company. www.miltonroy.com and www.sundyne.com

ITT Corp Completed the E206 million acquisition of the German pump manufacturer Joh Heinr Bornemann GmbH (see Pump Industry Analyst, December 2012). Bornemann specialises in highly engineered pumps and systems for the oil & gas industry, and also serves the marine, chemical, industrial, food and pharmaceutical sectors.

With its long history of pump manufacturing, Bornemann has significant growth potential as part of ITT Corp.www.itt.com

Siemens Put its Water Technologies unit up for sale (see Pump Industry Analyst, December 2012).

Despite adding to its water business earlier in the year with the acquisition of Cambridge Water Technology, Siemens closed 2012 with a For Sale sign on its E1 billion water treatment business.www.water.siemens.com

Sterling Investment Partners

Sold its portfolio company FCX Performance Inc to US private equity firm Harvest Partners LP in partnership with FCX Performance management (see Pump Industry Analyst, December 2012). Based in Columbus, Ohio, FCX Performance is an industrial, specialty process flow control distribution company. Products include valves and pumps.

With the support of Harvest, FCX will accelerate its strategy of expanding through both organic and acquisition growth initiatives.www.fcxperformance.com, www.harvpart.com and www.sterlinglp.com

The Gorman-Rupp Co’s National Pump Co

Finalised its purchase of American Turbine Pump Companies (see Pump Industry Analyst, January 2013). Founded in 1975, American Turbine Pump Companies is a group of companies that manufacture and distribute energy-efficient vertical turbine and submersible pumps mainly for agricultural, municipal and industrial markets.

American Turbine Pump Companies will complement the existing brands of National Pump Co, which Gorman-Rupp acquired in 2010. www.americanturbine.net and www.gormanrupp.com

Onex Corp Closed the acquisition of the KraussMaffei Group from Madison Capital in a E568 million deal (see Pump Industry Analyst, January 2013). KraussMaffei is a manufacturer of plastic and rubber processing equipment, including pumps.

KraussMaffei took the decision in 2010 to start manufacturing the metering pumps that its Reaction Process Machinery division uses in its polyurethane metering systems.www.kraussmaffeigroup.com and www.onex.com