- Email: [email protected]
Porvair 2016 revenues rise 14%
NEWS detection and measurement technologies, and power equipment. The transaction is expected to close by the end of this year. For further information, visit www.balcke-duerr.com, www.spx.com and www.mutares.com
Lydall expands in Europe with Gutsche acquisition
L
ydall Inc has entered into an agreement to acquire German filter media manufacturer MGF Gutsche GmbH & Co KG in a US$58 million cash deal. Gutsche, which has operations in Germany and China, produces nonwoven needle punch materials serving the industrial filtration and high performance nonwoven segments. The company is forecasting 2016 revenue of approximately US$50 million and EBITDA of US$6 million. The acquisition involves all of the Gutsche-branded businesses, including the high performance filtration and nonwovens businesses which operate under MGF Gutsche GmbH & Co KG in Germany and Gutsche Environmental Technology (Yixing) Co Ltd in China. Dale Barnhart, Lydall’s president and CEO, said: “The acquisition of Gutsche is very appealing as it combines two complementary companies in the industrial filtration and technical materials markets. With the addition of Gutsche, we gain an experienced management team and an attractive footprint to serve Europe as well as secure a strong filtration position in the fast growing waste-to-energy incineration market. In addition, we are able to complement our China-based sales with a focus on the greater Asia-Pacific export markets.” Michael Gutsche, president of Gutsche, said: “With Lydall, we have found the ideal partner who will support Gutsche’s
December 2016
continued growth in the long term and further expand its excellent position in the industries we serve. Our very important and long-standing client relationships will continue and, upon consummation of the acquisition, will enjoy the full support of a new global market leader.” The acquisition will be integrated into Lydall’s Technical Nonwovens segment. Lydall plans to maintain a manufacturing presence in Europe and China and, through restructuring initiatives, to increase efficiencies and unlock operational synergies. The transaction is expected to close at the end of the year, subject to receipt of customary merger control approval from German competition authorities and the completion of specified closing conditions. For further information, visit www.lydall.com and www.gutsche-mgf.com
Strategic partnership to help Akvola accelerate adoption of akvoFloat in Asia
G
erman water technology company Akvola Technologies has secured Japan’s CBC Group as a strategic partner and shareholder. Akvola Technologies says that this will allow the company to accelerate the commercialization of its akvoFloat water treatment systems in the Asian market, where CBC Group has a strong sales organization. In addition to an equity investment, Akvola Technologies will also enter into a sales partnership agreement with CBC. This gives the Japanese company preferential and early access to the akvoFloat technology, while Akvola Technologies can work with CBC’s global
sales network and large customer base in target markets. “We consider CBC to be a strong international business partner, as we seek to expand the sales revenue growth of our akvoFloat systems,” said Akvola Technologies CEO Matan Beery. “As environmental regulations get stricter and water reuse gains traction, industrial facilities in the Asian and Middle Eastern regions are adopting energy-efficient technologies that enable them to meet their compliance requirements cost-effectively. In this scenario the strategic fit between CBC and akvoFloat is perfect.” “We are excited about the opportunities that this investment will bring to CBC Group. As a customer centric technology trading company we are always looking for innovative products that enable us to create value for our current customer base and develop new markets,” said CBC Europe’s CEO Frank Höfer. “Akvola Technologies has proven its expertise on treating complex industrial wastewater with customers like ThyssenKrupp, Total and Siemens, so we are confident that the addition of akvoFloat to our product portfolio will be a major success. Additionally, in CBC Group we are driving the strategic change from hardware to customer solutions and this investment is a key step for us in the Asian region as well as in Europe.” akvoFloat is a proprietary flotationfiltration process based on novel ceramic membranes. The technology was designed to clean hard-to-treat industrial wastewater containing high concentrations of oil (free, dispersed and emulsified) and suspended solids. For further information, visit www.akvola.com and www.cbc.co.jp
Porvair 2016 revenues rise 14%
P
orvair plc, the filtration and environmental technology
Filtration Industry Analyst
3
IN BRIEF/NEWS
In Brief • The shareholders of FMC Technologies Inc and Technip SA have voted to approve the proposed business combination of Technip and FMC Technologies (see Filtration Industry Analyst, May and June 2016). FMC Technologies held a special meeting of its shareholders, and Technip held an extraordinary general meeting of its shareholders, as well as a special meeting of its shareholders that hold double voting rights. The proposed combination remains subject to certain regulatory approvals and consents, as well as other customary closing conditions. The transaction is expected to close in early 2017. www.fmctechnologies.com and www. technip.com • Porvair Filtration Group has received a Best Performing Supplier award from aerospace and defence supply chain service provider Pattonair. Hampshire, UK-based Porvair was recognised by Pattonair at its annual Supplier Conference for “operationally outperforming all other vendors in regards to on time delivery and quality” over the last 12 months. The filtration company supplies Pattonair with a range of fuel system products including differential pressure indicators, filter elements and flow wash filters used on civil and military engine platforms. www.porvairfiltration.com • Metso Corp’s head office has moved to new premises in Helsinki, Finland. www.metso.com • Cemtrex Inc, parent company of Griffin Filters, has been ranked No 213 on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America over the last four years. Cemtrex has achieved growth of 368% from 2012 to 2015. Cemtrex’s chairman and CEO Saagar Govil said: “Our organic growth continues to be strong, as we focus on expanding niches within our overall endmarkets like the automotive, medical, industrial and wearable industries. At the same time, our acquisition strategy is designed to strengthen our position in these areas and enter additional niches that have significant growth prospects.” www.cemtrex.com and www.deloitte.com
4
Filtration Industry Analyst
specialist, says revenue for the year ended 30 November 2016 was 14% higher than in 2015 and that earnings for the full year are expected to be ahead of current market expectations. Trading in the final quarter of fiscal 2016 was strong and order books for the start of 2017 are healthy. Porvair, which will announce its preliminary results for the year ended 30 November 2016 on 30 January 2017, said that its Microfiltration division was 15% ahead of last year while the Metals Filtration division was up 12%. Net cash at the year end increased to over £13 million. Capital expenditure was over £4 million and £2.9 million was paid as an initial cash cost for the December 2015 acquisition of TEM. For further information, visit www.porvair.com
TekModo Industries’ activated carbon division delivers first contract
C
anada’s TekModo Industries Inc has launched its activated carbon business, with the delivery of its first shipment (40 metric tons) of pelletized bituminous coal-based activated carbon. The company expects further deliveries within the next quarter, based on existing purchase orders for 154 metric tons. TekModo has the exclusive right, within Canada and the US, to distribute bituminous coal-based activated carbon pellets produced by an offshore manufacturer. The pelletized product is specifically designed to meet the filtration needs for vapour or gaseous filtration applications. TekModo is also seeking customers for bituminous coal-based granular activated carbon (GACs). CarbonOne Technologies Inc changed its name to TekModo Industries Inc in October 2016, following the acquisition of the TekModo group of companies. For further information, visit www.tekmodo.com
Wärtsilä and China’s CSSC sign BWMS licence agreement
W
ärtsilä has entered into a manufacturing licence agreement with Jiujiang Precision Measuring Technology Research Institute, a subsidiary of China State Shipbuilding Corp (CSSC), based in Jiujiang, China. The two-way agreement gives CSSC access to technology and the rights to manufacture the Wärtsilä Aquarius EC Ballast Water Management System (BWMS) under licence for applications to CSSC customers. In return, Wärtsilä gains access to CSSC’s new manufacturing facility to supply the BWMS direct to Wärtsilä customers. Wärtsilä retains ownership of the Aquarius Electro-Chlorination (EC) technology and all associated intellectual property rights, while CSSC will manufacture the system for sale and installation with CSSC newbuild and retrofit projects. “This is another landmark agreement forming an important new partnership in China. It facilitates the supply of Wärtsilä Aquarius EC BWMS to a significant provider in the Chinese marine market, both for new shipbuilding and retrofit projects. By combining the strengths of our two companies, we can more effectively meet the growing demand for EC BWMS for medium to large vessel applications,” said Dr Joe Thomas, director, Ballast Water Management Systems, Wärtsilä Marine Solutions. “As a subsidiary of CSSC, our institute has strong design and manufacturing capabilities. We have easy access to the resources concerning shipbuilding and retrofits for marketing and sales of BWMS systems, and Wärtsilä, as a significant global marine equipment supplier, has great advantages in technical support and global after sales service. This milestone event represents a promising start to our two companies’ partnership,” said Zou Xiubin, director, Jiujiang Precision Measuring Technology Research Institute. The agreement has a six year initial term. The Wärtsilä Aquarius EC BWMS treats ballast water using a simple two stage process involving filtration and electrochlorination. It is effective in all operating and environmental conditions. The system
December 2016
Lydall expands in Europe with Gutsche acquisition
L
ydall Inc has entered into an agreement to acquire German filter media manufacturer MGF Gutsche GmbH & Co KG in a US$58 million cash deal. Gutsche, which has operations in Germany and China, produces nonwoven needle punch materials serving the industrial filtration and high performance nonwoven segments. The company is forecasting 2016 revenue of approximately US$50 million and EBITDA of US$6 million. The acquisition involves all of the Gutsche-branded businesses, including the high performance filtration and nonwovens businesses which operate under MGF Gutsche GmbH & Co KG in Germany and Gutsche Environmental Technology (Yixing) Co Ltd in China. Dale Barnhart, Lydall’s president and CEO, said: “The acquisition of Gutsche is very appealing as it combines two complementary companies in the industrial filtration and technical materials markets. With the addition of Gutsche, we gain an experienced management team and an attractive footprint to serve Europe as well as secure a strong filtration position in the fast growing waste-to-energy incineration market. In addition, we are able to complement our China-based sales with a focus on the greater Asia-Pacific export markets.” Michael Gutsche, president of Gutsche, said: “With Lydall, we have found the ideal partner who will support Gutsche’s
December 2016
continued growth in the long term and further expand its excellent position in the industries we serve. Our very important and long-standing client relationships will continue and, upon consummation of the acquisition, will enjoy the full support of a new global market leader.” The acquisition will be integrated into Lydall’s Technical Nonwovens segment. Lydall plans to maintain a manufacturing presence in Europe and China and, through restructuring initiatives, to increase efficiencies and unlock operational synergies. The transaction is expected to close at the end of the year, subject to receipt of customary merger control approval from German competition authorities and the completion of specified closing conditions. For further information, visit www.lydall.com and www.gutsche-mgf.com
Strategic partnership to help Akvola accelerate adoption of akvoFloat in Asia
G
erman water technology company Akvola Technologies has secured Japan’s CBC Group as a strategic partner and shareholder. Akvola Technologies says that this will allow the company to accelerate the commercialization of its akvoFloat water treatment systems in the Asian market, where CBC Group has a strong sales organization. In addition to an equity investment, Akvola Technologies will also enter into a sales partnership agreement with CBC. This gives the Japanese company preferential and early access to the akvoFloat technology, while Akvola Technologies can work with CBC’s global
sales network and large customer base in target markets. “We consider CBC to be a strong international business partner, as we seek to expand the sales revenue growth of our akvoFloat systems,” said Akvola Technologies CEO Matan Beery. “As environmental regulations get stricter and water reuse gains traction, industrial facilities in the Asian and Middle Eastern regions are adopting energy-efficient technologies that enable them to meet their compliance requirements cost-effectively. In this scenario the strategic fit between CBC and akvoFloat is perfect.” “We are excited about the opportunities that this investment will bring to CBC Group. As a customer centric technology trading company we are always looking for innovative products that enable us to create value for our current customer base and develop new markets,” said CBC Europe’s CEO Frank Höfer. “Akvola Technologies has proven its expertise on treating complex industrial wastewater with customers like ThyssenKrupp, Total and Siemens, so we are confident that the addition of akvoFloat to our product portfolio will be a major success. Additionally, in CBC Group we are driving the strategic change from hardware to customer solutions and this investment is a key step for us in the Asian region as well as in Europe.” akvoFloat is a proprietary flotationfiltration process based on novel ceramic membranes. The technology was designed to clean hard-to-treat industrial wastewater containing high concentrations of oil (free, dispersed and emulsified) and suspended solids. For further information, visit www.akvola.com and www.cbc.co.jp
Porvair 2016 revenues rise 14%
P
orvair plc, the filtration and environmental technology
Filtration Industry Analyst
3
IN BRIEF/NEWS
In Brief • The shareholders of FMC Technologies Inc and Technip SA have voted to approve the proposed business combination of Technip and FMC Technologies (see Filtration Industry Analyst, May and June 2016). FMC Technologies held a special meeting of its shareholders, and Technip held an extraordinary general meeting of its shareholders, as well as a special meeting of its shareholders that hold double voting rights. The proposed combination remains subject to certain regulatory approvals and consents, as well as other customary closing conditions. The transaction is expected to close in early 2017. www.fmctechnologies.com and www. technip.com • Porvair Filtration Group has received a Best Performing Supplier award from aerospace and defence supply chain service provider Pattonair. Hampshire, UK-based Porvair was recognised by Pattonair at its annual Supplier Conference for “operationally outperforming all other vendors in regards to on time delivery and quality” over the last 12 months. The filtration company supplies Pattonair with a range of fuel system products including differential pressure indicators, filter elements and flow wash filters used on civil and military engine platforms. www.porvairfiltration.com • Metso Corp’s head office has moved to new premises in Helsinki, Finland. www.metso.com • Cemtrex Inc, parent company of Griffin Filters, has been ranked No 213 on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America over the last four years. Cemtrex has achieved growth of 368% from 2012 to 2015. Cemtrex’s chairman and CEO Saagar Govil said: “Our organic growth continues to be strong, as we focus on expanding niches within our overall endmarkets like the automotive, medical, industrial and wearable industries. At the same time, our acquisition strategy is designed to strengthen our position in these areas and enter additional niches that have significant growth prospects.” www.cemtrex.com and www.deloitte.com
4
Filtration Industry Analyst
specialist, says revenue for the year ended 30 November 2016 was 14% higher than in 2015 and that earnings for the full year are expected to be ahead of current market expectations. Trading in the final quarter of fiscal 2016 was strong and order books for the start of 2017 are healthy. Porvair, which will announce its preliminary results for the year ended 30 November 2016 on 30 January 2017, said that its Microfiltration division was 15% ahead of last year while the Metals Filtration division was up 12%. Net cash at the year end increased to over £13 million. Capital expenditure was over £4 million and £2.9 million was paid as an initial cash cost for the December 2015 acquisition of TEM. For further information, visit www.porvair.com
TekModo Industries’ activated carbon division delivers first contract
C
anada’s TekModo Industries Inc has launched its activated carbon business, with the delivery of its first shipment (40 metric tons) of pelletized bituminous coal-based activated carbon. The company expects further deliveries within the next quarter, based on existing purchase orders for 154 metric tons. TekModo has the exclusive right, within Canada and the US, to distribute bituminous coal-based activated carbon pellets produced by an offshore manufacturer. The pelletized product is specifically designed to meet the filtration needs for vapour or gaseous filtration applications. TekModo is also seeking customers for bituminous coal-based granular activated carbon (GACs). CarbonOne Technologies Inc changed its name to TekModo Industries Inc in October 2016, following the acquisition of the TekModo group of companies. For further information, visit www.tekmodo.com
Wärtsilä and China’s CSSC sign BWMS licence agreement
W
ärtsilä has entered into a manufacturing licence agreement with Jiujiang Precision Measuring Technology Research Institute, a subsidiary of China State Shipbuilding Corp (CSSC), based in Jiujiang, China. The two-way agreement gives CSSC access to technology and the rights to manufacture the Wärtsilä Aquarius EC Ballast Water Management System (BWMS) under licence for applications to CSSC customers. In return, Wärtsilä gains access to CSSC’s new manufacturing facility to supply the BWMS direct to Wärtsilä customers. Wärtsilä retains ownership of the Aquarius Electro-Chlorination (EC) technology and all associated intellectual property rights, while CSSC will manufacture the system for sale and installation with CSSC newbuild and retrofit projects. “This is another landmark agreement forming an important new partnership in China. It facilitates the supply of Wärtsilä Aquarius EC BWMS to a significant provider in the Chinese marine market, both for new shipbuilding and retrofit projects. By combining the strengths of our two companies, we can more effectively meet the growing demand for EC BWMS for medium to large vessel applications,” said Dr Joe Thomas, director, Ballast Water Management Systems, Wärtsilä Marine Solutions. “As a subsidiary of CSSC, our institute has strong design and manufacturing capabilities. We have easy access to the resources concerning shipbuilding and retrofits for marketing and sales of BWMS systems, and Wärtsilä, as a significant global marine equipment supplier, has great advantages in technical support and global after sales service. This milestone event represents a promising start to our two companies’ partnership,” said Zou Xiubin, director, Jiujiang Precision Measuring Technology Research Institute. The agreement has a six year initial term. The Wärtsilä Aquarius EC BWMS treats ballast water using a simple two stage process involving filtration and electrochlorination. It is effective in all operating and environmental conditions. The system
December 2016