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Compressco Partners to acquire Compressor Systems Inc
NEWS
Compressco Partners to acquire Compressor Systems Inc
T
ETRA Technologies Inc’s majority owned, publicly-traded partnership Compressco Partners LP is buying Midland, Texas-based Compressor Systems Inc (CSI) for US$825 million in cash from Warren Equipment Co. Founded in 1971, CSI fabricates, sells and maintains natural gas compressors and provides compression services and has one of the largest fleets of natural gas compression equipment in the US. CSI also fabricates and sells engine-driven oilfield fluid pump systems mainly for the international market. For the year ended 31 March 2014, CSI had aggregate revenues of US$311 million, and EBITDA of US$82.3 million. Compressco Partners is managed by Compressco Partners GP Inc, which is an indirect, wholly owned subsidiary of TETRA Technologies. The combined organization will be headed up by Tim Knox, CSI’s current president. Compressco’s president Ron Foster will become senior vice president and chief marketing officer, while Compressco’s chief financial officer (CFO) James Rounsavall will serve as CFO. “We believe that this blending of the current CSI and Compressco leadership will provide continuity for both organizations, while retaining valuable institutional knowledge and industry experience. When we have completed this acquisition, the combined management teams across TETRA, Compressco and CSI will be managing a world-class global enterprise that will create value for both TETRA and Compressco shareholders,” said Stuart Brightman, TETRA Technologies’ president and CEO, and chairman of the board of Compressco. For further information, visit tetratec.com, www.compressco.com, www.compressor-systems.com and www.warren-equipment.com
Lewa rebrands with new logo
T
he Lewa-Nikkiso Group has unveiled a new corporate design and logo. The new logo retains “Creating Fluid Solutions”, while intentionally eliminating the 16
Pump Industry Analyst
phrase “pumps + systems” as well as “Member of Nikkiso”. A slanted bar in the background comes from the Japanese parent Nikkiso’s logo. The pump company expects this slanted bar to serve as a visual recognition feature for the entire Lewa Group, and to also indicate the relationship with Nikkiso. As the company expands into new markets, the Lewa brand will be transferred to new members of the group. The US subsidiary Integrated Process Technologies Inc which was acquired last year, for example, will be renamed Lewa Process Technologies. The rebranding should be completed by Achema 2015.
Editorial Office: Elsevier Limited, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843933 Web: www.pumpindustryanalyst.com Editor: Roisin Reidy E-mail: [email protected] Production Support Manager: Lin Lucas E-mail: [email protected] Publisher: David Hopwood Subscription Information
For further information, visit www.lewa.com
Xylem’s Saajhi Stepping Pump wins international design award
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ylem Inc’s Saajhi Stepping Pump has won the Social Impact professional category in the Core77 Design Awards. The Saajhi Stepping Pump is a product developed as part of Xylem’s Essence of Life (EOL) initiative. Launched in 2013, the Saajhi pump was designed for rural agriculture as a solution for smallholder farmers to irrigate their land more efficiently. The pump uses human weight and motion to move water, resulting in three times greater crop yield compared with rain-fed fields, and more than a 25% reduction in labour time compared with traditional furrow irrigation. Xylem’s Essence of Life business model works with citizens and public and private partners to understand the needs of and develop solutions for rural farmers in developing nations. “This award is a testament to our revolutionary vision for the EOL business and the work our team is doing every day on the ground and in rural communities,” said Keith Teichmann, Xylem’s director of innovative networks and marketing. “The Saajhi Stepping Pump is improving the way smallholder farmers tend to their crops and we’re humbled and honoured to field a product capable of improving the livelihoods of those in these communities.” For further information, visit www.xyleminc.com and www.core77designawards.com/2014/
An annual subscription to Pump Industry Analyst includes 12 issues and online access for up to 5 users. Prices: 1356 for all European countries & Iran US$1520 for all countries except Europe and Japan ¥180 300 for Japan (Prices valid until 31 December 2014) To subscribe send payment to the address above. Tel: +44 (0)1865 843687 or via www.pumpindustryanalyst.com Subscriptions run for 12 months, from the date payment is received. Permissions may be sought directly from Elsevier Rights & Permissions Department, PO Box 800, Oxford OX5 1DX, UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, email: permissions@ elsevier.com. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.com), selecting first ‘Customer Support’, then ‘General Information’, then Permissions Query Form’. In the USA, users may clear permissions and make payments through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; phone: (978) 7508400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London W1P 0LP, UK; phone: (+44) 207 436 5931; fax: (+44) 207 436 3986. Other countries may have a local reprographic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Permission of the publisher is required for resale or distribution outside the institution. Permission of the publisher is required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permissions requests to: Elsevier Rights & Permissions Department, at the mail, fax and email addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
Digitally Produced by Mayfield Press (Oxford) LImited 12979
July 2014
Compressco Partners to acquire Compressor Systems Inc
T
ETRA Technologies Inc’s majority owned, publicly-traded partnership Compressco Partners LP is buying Midland, Texas-based Compressor Systems Inc (CSI) for US$825 million in cash from Warren Equipment Co. Founded in 1971, CSI fabricates, sells and maintains natural gas compressors and provides compression services and has one of the largest fleets of natural gas compression equipment in the US. CSI also fabricates and sells engine-driven oilfield fluid pump systems mainly for the international market. For the year ended 31 March 2014, CSI had aggregate revenues of US$311 million, and EBITDA of US$82.3 million. Compressco Partners is managed by Compressco Partners GP Inc, which is an indirect, wholly owned subsidiary of TETRA Technologies. The combined organization will be headed up by Tim Knox, CSI’s current president. Compressco’s president Ron Foster will become senior vice president and chief marketing officer, while Compressco’s chief financial officer (CFO) James Rounsavall will serve as CFO. “We believe that this blending of the current CSI and Compressco leadership will provide continuity for both organizations, while retaining valuable institutional knowledge and industry experience. When we have completed this acquisition, the combined management teams across TETRA, Compressco and CSI will be managing a world-class global enterprise that will create value for both TETRA and Compressco shareholders,” said Stuart Brightman, TETRA Technologies’ president and CEO, and chairman of the board of Compressco. For further information, visit tetratec.com, www.compressco.com, www.compressor-systems.com and www.warren-equipment.com
Lewa rebrands with new logo
T
he Lewa-Nikkiso Group has unveiled a new corporate design and logo. The new logo retains “Creating Fluid Solutions”, while intentionally eliminating the 16
Pump Industry Analyst
phrase “pumps + systems” as well as “Member of Nikkiso”. A slanted bar in the background comes from the Japanese parent Nikkiso’s logo. The pump company expects this slanted bar to serve as a visual recognition feature for the entire Lewa Group, and to also indicate the relationship with Nikkiso. As the company expands into new markets, the Lewa brand will be transferred to new members of the group. The US subsidiary Integrated Process Technologies Inc which was acquired last year, for example, will be renamed Lewa Process Technologies. The rebranding should be completed by Achema 2015.
Editorial Office: Elsevier Limited, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843933 Web: www.pumpindustryanalyst.com Editor: Roisin Reidy E-mail: [email protected] Production Support Manager: Lin Lucas E-mail: [email protected] Publisher: David Hopwood Subscription Information
For further information, visit www.lewa.com
Xylem’s Saajhi Stepping Pump wins international design award
X
ylem Inc’s Saajhi Stepping Pump has won the Social Impact professional category in the Core77 Design Awards. The Saajhi Stepping Pump is a product developed as part of Xylem’s Essence of Life (EOL) initiative. Launched in 2013, the Saajhi pump was designed for rural agriculture as a solution for smallholder farmers to irrigate their land more efficiently. The pump uses human weight and motion to move water, resulting in three times greater crop yield compared with rain-fed fields, and more than a 25% reduction in labour time compared with traditional furrow irrigation. Xylem’s Essence of Life business model works with citizens and public and private partners to understand the needs of and develop solutions for rural farmers in developing nations. “This award is a testament to our revolutionary vision for the EOL business and the work our team is doing every day on the ground and in rural communities,” said Keith Teichmann, Xylem’s director of innovative networks and marketing. “The Saajhi Stepping Pump is improving the way smallholder farmers tend to their crops and we’re humbled and honoured to field a product capable of improving the livelihoods of those in these communities.” For further information, visit www.xyleminc.com and www.core77designawards.com/2014/
An annual subscription to Pump Industry Analyst includes 12 issues and online access for up to 5 users. Prices: 1356 for all European countries & Iran US$1520 for all countries except Europe and Japan ¥180 300 for Japan (Prices valid until 31 December 2014) To subscribe send payment to the address above. Tel: +44 (0)1865 843687 or via www.pumpindustryanalyst.com Subscriptions run for 12 months, from the date payment is received. Permissions may be sought directly from Elsevier Rights & Permissions Department, PO Box 800, Oxford OX5 1DX, UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, email: permissions@ elsevier.com. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.com), selecting first ‘Customer Support’, then ‘General Information’, then Permissions Query Form’. In the USA, users may clear permissions and make payments through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; phone: (978) 7508400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London W1P 0LP, UK; phone: (+44) 207 436 5931; fax: (+44) 207 436 3986. Other countries may have a local reprographic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Permission of the publisher is required for resale or distribution outside the institution. Permission of the publisher is required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permissions requests to: Elsevier Rights & Permissions Department, at the mail, fax and email addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
Digitally Produced by Mayfield Press (Oxford) LImited 12979
July 2014