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SPP Pumps awarded £1.12mn funding for UK R&D facility
pumpindustry ANALYST
ISSN 1359-6128 January 2015
www.pumpindustryanalyst.com
Graco buys White Knight Fluid Handling
G
raco Inc has acquired White Knight Fluid Handling, a Kamas, Utahbased manufacturer of air-operated double-bellows, air-operated doublediaphragm and metering pumps. White Knight Fluid Handling’s high purity, metal-free pumps are used to deliver, circulate, reclaim and transport chemical fluids and slurries in the production of semiconductors, solar panels, LED flat panel displays, and other electronics. The company’s fluid management solutions, including pumping solutions, are also used in chemical applications such as dosing, spiking, photoresist, etching, cleaning and blending. Graco is also buying the Erie, Pennsylvaniabased High Pressure Equipment (HiP) company for US$160 million. HiP designs and manufactures valves, fittings and other flow control equipment used in ultra-high pressure environments. Graco completed two other acquisitions in December 2014: Canadian blasting equipment manufacturer GeoBlaster Equipment Sales & Services Inc and Brazilian
finishing products company MultimaqPistolas e Equipamentos Para Pintura Ltda. The combined cash purchase price for the four businesses is approximately US$185 million. Additional consideration will be paid to the former owners of White Knight Fluid Handling if the business achieves certain growth targets. Aggregate sales and EBITDA of the four businesses in the most recent 12 month period were approximately US$50 million and US$17 million, respectively. For further information, visit www.graco.com and https://wkfluidhandling.com
COMMENT Having acquired EcoQuip at the end of 2013, QED Environmental Systems at the beginning of fiscal 2014 and Alco Valves Group late last year, Graco continues to add to its portfolio of specialised fluid management products with this latest set of purchases. ■
Contents Company Profile Ebara
5
Company Watch Crane
6
Dover
6
Energy Recovery
7
Graco
7
Layne Christensen
8
Roper
8
Diary
15
Exchange Rates
14
Feature Mergers & Acquisitions Review 2014
12–13
Financial Calendar
14
Market Prospects
2–4
New Product Developments
14
News Graco buys White Knight Fluid Handling
1
SPP Pumps awarded £1.12mn funding for UK R&D facility
1
Gabelli’s 25th Annual Pump, Valve & Water Systems Symposium
11
SPP Pumps awarded £1.12mn funding for UK R&D facility
Helix, OneSubsea and Schlumberger form subsea well intervention alliance
11
Bell & Gossett’s Little Red Schoolhouse goes online
11
C
Cantel Medical acquires Pure Water Solutions
11
entrifugal pump manufacturer SPP Pumps has secured £1.12 million in regional growth funding to build a new R&D facility within its pump manufacturing centre in Coleford, UK. The state-of-the-art facility will provide SPP with a higher rated power supply, eliminating the need for generator hire. A new packing and despatch area with two 25ft cranes will free up a further 60% of existing floor space to build more pumps. A new paint spray booth is also planned for the facility, and a higher capacity test well will offer improved capability, health and safety and efficiency for the company.
“The funding will help us to realise our vision for the new facility, giving us much more capacity, improving efficiency and reducing lead times - but most importantly will allow us to manufacture solutions that meet our customer specifications far more effectively,” said site director Ken Winn. SPP Pumps is a subsidiary of India’s Kirloskar Brothers Ltd. The UK government’s £3.2 billion Regional Growth Fund supports eligible projects and programmes that are also raising private sector investment to create economic growth and lasting employment.
Kirloskar opens new warehouse in Kirloskarvadi
16
Flowserve seals SIHI acquisition
16
Tsurumi sets up rental operation in France
16
Orders & Contracts
9
People & Appointments
10
Stock Watch
15
For further information, visit www.spppumps.com
ISSN 1359-6128/15 © 2015 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.
ISSN 1359-6128 January 2015
www.pumpindustryanalyst.com
Graco buys White Knight Fluid Handling
G
raco Inc has acquired White Knight Fluid Handling, a Kamas, Utahbased manufacturer of air-operated double-bellows, air-operated doublediaphragm and metering pumps. White Knight Fluid Handling’s high purity, metal-free pumps are used to deliver, circulate, reclaim and transport chemical fluids and slurries in the production of semiconductors, solar panels, LED flat panel displays, and other electronics. The company’s fluid management solutions, including pumping solutions, are also used in chemical applications such as dosing, spiking, photoresist, etching, cleaning and blending. Graco is also buying the Erie, Pennsylvaniabased High Pressure Equipment (HiP) company for US$160 million. HiP designs and manufactures valves, fittings and other flow control equipment used in ultra-high pressure environments. Graco completed two other acquisitions in December 2014: Canadian blasting equipment manufacturer GeoBlaster Equipment Sales & Services Inc and Brazilian
finishing products company MultimaqPistolas e Equipamentos Para Pintura Ltda. The combined cash purchase price for the four businesses is approximately US$185 million. Additional consideration will be paid to the former owners of White Knight Fluid Handling if the business achieves certain growth targets. Aggregate sales and EBITDA of the four businesses in the most recent 12 month period were approximately US$50 million and US$17 million, respectively. For further information, visit www.graco.com and https://wkfluidhandling.com
COMMENT Having acquired EcoQuip at the end of 2013, QED Environmental Systems at the beginning of fiscal 2014 and Alco Valves Group late last year, Graco continues to add to its portfolio of specialised fluid management products with this latest set of purchases. ■
Contents Company Profile Ebara
5
Company Watch Crane
6
Dover
6
Energy Recovery
7
Graco
7
Layne Christensen
8
Roper
8
Diary
15
Exchange Rates
14
Feature Mergers & Acquisitions Review 2014
12–13
Financial Calendar
14
Market Prospects
2–4
New Product Developments
14
News Graco buys White Knight Fluid Handling
1
SPP Pumps awarded £1.12mn funding for UK R&D facility
1
Gabelli’s 25th Annual Pump, Valve & Water Systems Symposium
11
SPP Pumps awarded £1.12mn funding for UK R&D facility
Helix, OneSubsea and Schlumberger form subsea well intervention alliance
11
Bell & Gossett’s Little Red Schoolhouse goes online
11
C
Cantel Medical acquires Pure Water Solutions
11
entrifugal pump manufacturer SPP Pumps has secured £1.12 million in regional growth funding to build a new R&D facility within its pump manufacturing centre in Coleford, UK. The state-of-the-art facility will provide SPP with a higher rated power supply, eliminating the need for generator hire. A new packing and despatch area with two 25ft cranes will free up a further 60% of existing floor space to build more pumps. A new paint spray booth is also planned for the facility, and a higher capacity test well will offer improved capability, health and safety and efficiency for the company.
“The funding will help us to realise our vision for the new facility, giving us much more capacity, improving efficiency and reducing lead times - but most importantly will allow us to manufacture solutions that meet our customer specifications far more effectively,” said site director Ken Winn. SPP Pumps is a subsidiary of India’s Kirloskar Brothers Ltd. The UK government’s £3.2 billion Regional Growth Fund supports eligible projects and programmes that are also raising private sector investment to create economic growth and lasting employment.
Kirloskar opens new warehouse in Kirloskarvadi
16
Flowserve seals SIHI acquisition
16
Tsurumi sets up rental operation in France
16
Orders & Contracts
9
People & Appointments
10
Stock Watch
15
For further information, visit www.spppumps.com
ISSN 1359-6128/15 © 2015 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.