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3i increases its stake in AES Engineering
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Grundfos acquires Peerless Pumps Grundfos has acquired US-based pump and fire protection manufacturer Peerless Pumps. Peerless has sales of US$110 million, making it Grundfos’ largest acquisition to date. “Recently we have focused on growing our business globally, especially in Eastern Europe, Asia and North America,” said Carsten Bjerg, group president and CEO of Grundfos Group, about the move. “The US market has a significant growth potential and seen in that perspective the acquisition of Peerless is of great strategic importance to Grundfos.” The US pump market is around US$6 billion, and according to Grundfos, the business potential is huge. Currently, the company’s sales in North America are US$300 million. With the latest acquisition, it
expects to double sales within a four year period reaching US$600 million. “The fire protection system industry is currently very buoyant, due to a strong investment in high rises in the Far and Middle East – particular China and Dubai,” Søren Ø. Sørensen, group executive vice president, Grundfos, told World Pumps. “The acquisition of Peerless’ product range in this area will complement Grundfos’ existing range of water pumps for this industry.” “This is not the start of a new strategy of growth through large acquisitions,” he explained. “We plan to grow the company organically, making acquisitions that fit into or complement our current product ranges, as well as open up new channels for growth.”
New MD spells changes for Tapflo
“We shall continue to develop the company according to plan. This includes doubling turnover within five years,” said Ekstrand. He added that Tapflo will be reinforcing its Swedish organisation with more personnel and increasing visibility abroad by supporting company subsidiaries and working partners.
The company plans to launch a large number of new products, together with a newly developed pump series, within the next few years. “As of today Tapflo is almost the only independent AODD [airoperated double diaphragm] pump manufacturer left in the world. We are sure that the market for AODD pumps is expanding and demand for tailor-made pumps will increase,” Ekstrand said. “On the other hand, Tapflo also offers a range of centrifugal pumps for process applications and more is to come.”
“We are focusing on our existing Tapflo partners, but opportunities to cooperate with other pump manufacturers as a distributor in these countries is also on the agenda,” Håkan Ekstrand said in an exclusive interview for World Pumps. “We will look into global agreements for Tapflo Group.”
Ekstrand also told World Pumps that markets will change a great deal in the next ten years. “With the strong environmental focus in Europe, all AODD pumps need to be pollution free, have less air consumption and be maximised in all possible ways. Traditional AODD pump manufacturers will have a hard time.”
Håkan Ekstrand has been appointed as the new managing director for Tapflo AB. Börje Johansson, who founded the company in 1985, will be staying on as chairman.
4
www.worldpumps.com
3i increases its stake in AES Engineering
Eekels Pumps sold to ABN Amro
The financial group 3i has made a further investment in AES Engineering Ltd (AES), the holding company of the seal manufacturer AESSEAL Group.
ABN AMRO Participaties and Erik Leenart, the managing director of acquiring pump distributor and manufacturer Eekels are to acquire the company from investment company Nimbus and equipment manufacturer Pon.
3i first invested in AES in 1996 and this secondary investment increases its equity stake to 40% and values the business at £100 million. AES was founded in 1979 by Chris Rea who will retain a majority interest and control of the business. Management was advised by Deloitte Corporate Finance and by Kevin Cunningham of Irwin Mitchell. Martin Jenkins, corporate finance partner at Deloitte said: “AES has developed from a start-up 25 years ago to a business operating from more than 60 sites in 30 countries and is now the fourth largest mechanical seals company in the world with exports to 83 countries.”
Eekels has been in the building construction sector, the public sector and industry for over 90 years. The takeover will enable Eekels to further expand its product and service concept both in the Benelux and beyond, the company said. “In terms of expansion, we are considering expansion in rental in Benelux, France, Germany and the UK,” Leenart told World Pumps. “Sales of our self-developed and patented Betsy-pump is growing in Europe and we look for further expansion into the US. Other growth areas are the sale of pumps and service and repair in the Benelux.”
10 companies supply 20% of valves 10 valves companies account for 20% of the total global market, says McIlvaine in its Industrial Valves: World Markets, report. Tyco is the largest supplier with sales of US$2.4 billion (a 6% market share), followed by Emerson with sales of US$1,050 million and Flowserve with sales of US$995 million. These top valve companies are followed by Kitz, Cameron,
Crane Company, Circor, AVK Group, Curtiss-Wright and IMI plc.The world valve market is currently at US$43 billion andwill grow to US$52 billion in 2010, McIlvaine predicts. There are more Asian valve suppliers rising in the rankings, and many new Chinese companies have entered the market in recent years to meet the rapidly growing demand for industrial valves within the country.
2008 Hydraulic Institute annual meeting Registration is now open for The Hydraulic Institute (HI)’s 2008 annual meeting, which will be held at the Marco Island Marriott Beach Resort in Florida, USA from February 21-26, 2008. The meeting will feature thirty different technical sessions, a CEO and management track, pump educational sessions, a workshop on pump knowledge and two special presentations, including The Push for Energy
Efficiency in Pumping Systems led by Doug Kaempf, the US Department of Energy’s director of energy efficiency and renewable resources. Registration is open to all HI members, associate members and Standards Partners as well as members of Europump. The online meeting brochure and the forms for registration and function sign-up are available on the HI website, www.pumps.org.
WORLD PUMPS January 2008
Grundfos acquires Peerless Pumps Grundfos has acquired US-based pump and fire protection manufacturer Peerless Pumps. Peerless has sales of US$110 million, making it Grundfos’ largest acquisition to date. “Recently we have focused on growing our business globally, especially in Eastern Europe, Asia and North America,” said Carsten Bjerg, group president and CEO of Grundfos Group, about the move. “The US market has a significant growth potential and seen in that perspective the acquisition of Peerless is of great strategic importance to Grundfos.” The US pump market is around US$6 billion, and according to Grundfos, the business potential is huge. Currently, the company’s sales in North America are US$300 million. With the latest acquisition, it
expects to double sales within a four year period reaching US$600 million. “The fire protection system industry is currently very buoyant, due to a strong investment in high rises in the Far and Middle East – particular China and Dubai,” Søren Ø. Sørensen, group executive vice president, Grundfos, told World Pumps. “The acquisition of Peerless’ product range in this area will complement Grundfos’ existing range of water pumps for this industry.” “This is not the start of a new strategy of growth through large acquisitions,” he explained. “We plan to grow the company organically, making acquisitions that fit into or complement our current product ranges, as well as open up new channels for growth.”
New MD spells changes for Tapflo
“We shall continue to develop the company according to plan. This includes doubling turnover within five years,” said Ekstrand. He added that Tapflo will be reinforcing its Swedish organisation with more personnel and increasing visibility abroad by supporting company subsidiaries and working partners.
The company plans to launch a large number of new products, together with a newly developed pump series, within the next few years. “As of today Tapflo is almost the only independent AODD [airoperated double diaphragm] pump manufacturer left in the world. We are sure that the market for AODD pumps is expanding and demand for tailor-made pumps will increase,” Ekstrand said. “On the other hand, Tapflo also offers a range of centrifugal pumps for process applications and more is to come.”
“We are focusing on our existing Tapflo partners, but opportunities to cooperate with other pump manufacturers as a distributor in these countries is also on the agenda,” Håkan Ekstrand said in an exclusive interview for World Pumps. “We will look into global agreements for Tapflo Group.”
Ekstrand also told World Pumps that markets will change a great deal in the next ten years. “With the strong environmental focus in Europe, all AODD pumps need to be pollution free, have less air consumption and be maximised in all possible ways. Traditional AODD pump manufacturers will have a hard time.”
Håkan Ekstrand has been appointed as the new managing director for Tapflo AB. Börje Johansson, who founded the company in 1985, will be staying on as chairman.
4
www.worldpumps.com
3i increases its stake in AES Engineering
Eekels Pumps sold to ABN Amro
The financial group 3i has made a further investment in AES Engineering Ltd (AES), the holding company of the seal manufacturer AESSEAL Group.
ABN AMRO Participaties and Erik Leenart, the managing director of acquiring pump distributor and manufacturer Eekels are to acquire the company from investment company Nimbus and equipment manufacturer Pon.
3i first invested in AES in 1996 and this secondary investment increases its equity stake to 40% and values the business at £100 million. AES was founded in 1979 by Chris Rea who will retain a majority interest and control of the business. Management was advised by Deloitte Corporate Finance and by Kevin Cunningham of Irwin Mitchell. Martin Jenkins, corporate finance partner at Deloitte said: “AES has developed from a start-up 25 years ago to a business operating from more than 60 sites in 30 countries and is now the fourth largest mechanical seals company in the world with exports to 83 countries.”
Eekels has been in the building construction sector, the public sector and industry for over 90 years. The takeover will enable Eekels to further expand its product and service concept both in the Benelux and beyond, the company said. “In terms of expansion, we are considering expansion in rental in Benelux, France, Germany and the UK,” Leenart told World Pumps. “Sales of our self-developed and patented Betsy-pump is growing in Europe and we look for further expansion into the US. Other growth areas are the sale of pumps and service and repair in the Benelux.”
10 companies supply 20% of valves 10 valves companies account for 20% of the total global market, says McIlvaine in its Industrial Valves: World Markets, report. Tyco is the largest supplier with sales of US$2.4 billion (a 6% market share), followed by Emerson with sales of US$1,050 million and Flowserve with sales of US$995 million. These top valve companies are followed by Kitz, Cameron,
Crane Company, Circor, AVK Group, Curtiss-Wright and IMI plc.The world valve market is currently at US$43 billion andwill grow to US$52 billion in 2010, McIlvaine predicts. There are more Asian valve suppliers rising in the rankings, and many new Chinese companies have entered the market in recent years to meet the rapidly growing demand for industrial valves within the country.
2008 Hydraulic Institute annual meeting Registration is now open for The Hydraulic Institute (HI)’s 2008 annual meeting, which will be held at the Marco Island Marriott Beach Resort in Florida, USA from February 21-26, 2008. The meeting will feature thirty different technical sessions, a CEO and management track, pump educational sessions, a workshop on pump knowledge and two special presentations, including The Push for Energy
Efficiency in Pumping Systems led by Doug Kaempf, the US Department of Energy’s director of energy efficiency and renewable resources. Registration is open to all HI members, associate members and Standards Partners as well as members of Europump. The online meeting brochure and the forms for registration and function sign-up are available on the HI website, www.pumps.org.
WORLD PUMPS January 2008