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Avingtrans set to acquire Hayward Tyler Group
pumpindustry ANALYST
ISSN 1359-6128 July 2017
www.pumpindustryanalyst.com
Avingtrans set to acquire Hayward Tyler Group
Contents
U
K AIM-listed engineering group Avingtrans plc has made a recommended offer to acquire the entire share capital of Hayward Tyler Group plc. Under a scheme of arrangement, Hayward Tyler Group shareholders will be entitled to receive one new Avingtrans share for every 4.755 scheme shares they hold. The acquisition is expected to result in scheme shareholders owning 37.6% of the enlarged Avingtrans share capital. Ewan Lloyd-Baker, CEO of Hayward Tyler Group, said: “I am pleased that in Avingtrans we have found a company that understands the long-term nature of our business and the significant opportunities for growth within Hayward Tyler and Peter Brotherhood on the back of our record order book and the improving market fundamentals.” Steve McQuillan, CEO of Avingtrans, said: “Hayward Tyler and Peter Brotherhood are great businesses with enviable pedigrees, which fit perfectly with our intended development of our Energy division. We
believe the enlarged group will become a market leader in key sectors of interest – notably nuclear power and oil & gas – and the combined business has the potential to deliver a substantial increase in shareholder value over the medium term.” Hayward Tyler Group, which includes the Hayward Tyler and Peter Brotherhood businesses, employs more than 500 people and has facilities in the UK, the USA, China and India. The Hayward Tyler business specializes in the design, manufacture and servicing of performance-critical motors and pumps in challenging environments in power, oil & gas and nuclear. Hayward Tyler recently completed a multi-million pound investment in a new Centre of Excellence at its Luton, UK headquarters. Peter Brotherhood manufactures and services performance-critical steam turbines, compressors, gear boxes and combined heat and power systems. For further information, visit www.htg.global, www.haywardtyler.com and www.avingtrans.plc.uk
SPX Flow and Al Wajdi Group form service joint venture in Iraq
S
PX Flow is setting up a joint venture with the Al Wajdi Group (WTE) to service rotating and static equipment, including pumps, for oil & gas, industrial and power customers in Iraq. The new joint venture – SPX Flow & WTE Energy Industrial Services FZCO – will have offices in Dubai, with local operations and an S&W Energy Industrial Services subsidiary based in North Rumalia Oil Field in southern Iraq. SPX Flow and WTE have built a local 1000m2 fully equipped workshop within the Rumalia Concession Area. The Basra
Province-based workshop is centrally located in Iraq’s oil producing south to provide easy access to the country’s Zubair, Majnoon, Rumalia, West Quarna, Garraf and Missan super-giant oil fields and to serve Basra’s and Baghdad’s refineries and power stations. The joint venture will provide field services, site surveys and workshop overhaul and maintenance services for all manufacturers of rotating equipment including centrifugal, reciprocating and metering pumps and mixers. For further information, visit www.spxflow.com and www.wte-net.com
Company Profile Atlas Copco
5
Sulzer 6 Company Watch Crane 7 Dover 7 Idex 8 Lindsay 8 Metso 9 Pentair 9 Diary
15
Dividends
10
Financial Calendar
14
In Brief Market Prospects New Product Developments
3 2–4 15
News Avingtrans set to acquire Hayward Tyler Group 1 SPX Flow and Al Wajdi Group form service joint venture in Iraq 1 GE Oil & Gas and Baker Hughes complete merger
2
Hugo Vogelsang Maschinenbau restructures
2
Aspen Pumps expands with UK and French acquisitions 2 Nidec acquires Italian pump and motor maker LGB Elettropompe
3
Armstrong’s Shanghai office to serve as Asian HQ
3
Pelican Energy Partners sells Multilift to Forum Energy Technologies
3
ASESEAL invests in dry gas compressor seal testing 4 Wilden launches new e-commerce store
4
Spirax-Sarco Engineering buys Chromalox
4
Carotek extends mechanical products group in Georgia 4 HHI to manufacture pumps in Saudi Arabia
16
Halliburton buys Summit ESP
16
Xylem opens pumping innovation centre in Italy 16 Orders & Contracts
10
People & Appointments
11
ISSN 1359-6128/17 © 2017 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 July 2017
www.pumpindustryanalyst.com
Avingtrans set to acquire Hayward Tyler Group
Contents
U
K AIM-listed engineering group Avingtrans plc has made a recommended offer to acquire the entire share capital of Hayward Tyler Group plc. Under a scheme of arrangement, Hayward Tyler Group shareholders will be entitled to receive one new Avingtrans share for every 4.755 scheme shares they hold. The acquisition is expected to result in scheme shareholders owning 37.6% of the enlarged Avingtrans share capital. Ewan Lloyd-Baker, CEO of Hayward Tyler Group, said: “I am pleased that in Avingtrans we have found a company that understands the long-term nature of our business and the significant opportunities for growth within Hayward Tyler and Peter Brotherhood on the back of our record order book and the improving market fundamentals.” Steve McQuillan, CEO of Avingtrans, said: “Hayward Tyler and Peter Brotherhood are great businesses with enviable pedigrees, which fit perfectly with our intended development of our Energy division. We
believe the enlarged group will become a market leader in key sectors of interest – notably nuclear power and oil & gas – and the combined business has the potential to deliver a substantial increase in shareholder value over the medium term.” Hayward Tyler Group, which includes the Hayward Tyler and Peter Brotherhood businesses, employs more than 500 people and has facilities in the UK, the USA, China and India. The Hayward Tyler business specializes in the design, manufacture and servicing of performance-critical motors and pumps in challenging environments in power, oil & gas and nuclear. Hayward Tyler recently completed a multi-million pound investment in a new Centre of Excellence at its Luton, UK headquarters. Peter Brotherhood manufactures and services performance-critical steam turbines, compressors, gear boxes and combined heat and power systems. For further information, visit www.htg.global, www.haywardtyler.com and www.avingtrans.plc.uk
SPX Flow and Al Wajdi Group form service joint venture in Iraq
S
PX Flow is setting up a joint venture with the Al Wajdi Group (WTE) to service rotating and static equipment, including pumps, for oil & gas, industrial and power customers in Iraq. The new joint venture – SPX Flow & WTE Energy Industrial Services FZCO – will have offices in Dubai, with local operations and an S&W Energy Industrial Services subsidiary based in North Rumalia Oil Field in southern Iraq. SPX Flow and WTE have built a local 1000m2 fully equipped workshop within the Rumalia Concession Area. The Basra
Province-based workshop is centrally located in Iraq’s oil producing south to provide easy access to the country’s Zubair, Majnoon, Rumalia, West Quarna, Garraf and Missan super-giant oil fields and to serve Basra’s and Baghdad’s refineries and power stations. The joint venture will provide field services, site surveys and workshop overhaul and maintenance services for all manufacturers of rotating equipment including centrifugal, reciprocating and metering pumps and mixers. For further information, visit www.spxflow.com and www.wte-net.com
Company Profile Atlas Copco
5
Sulzer 6 Company Watch Crane 7 Dover 7 Idex 8 Lindsay 8 Metso 9 Pentair 9 Diary
15
Dividends
10
Financial Calendar
14
In Brief Market Prospects New Product Developments
3 2–4 15
News Avingtrans set to acquire Hayward Tyler Group 1 SPX Flow and Al Wajdi Group form service joint venture in Iraq 1 GE Oil & Gas and Baker Hughes complete merger
2
Hugo Vogelsang Maschinenbau restructures
2
Aspen Pumps expands with UK and French acquisitions 2 Nidec acquires Italian pump and motor maker LGB Elettropompe
3
Armstrong’s Shanghai office to serve as Asian HQ
3
Pelican Energy Partners sells Multilift to Forum Energy Technologies
3
ASESEAL invests in dry gas compressor seal testing 4 Wilden launches new e-commerce store
4
Spirax-Sarco Engineering buys Chromalox
4
Carotek extends mechanical products group in Georgia 4 HHI to manufacture pumps in Saudi Arabia
16
Halliburton buys Summit ESP
16
Xylem opens pumping innovation centre in Italy 16 Orders & Contracts
10
People & Appointments
11
ISSN 1359-6128/17 © 2017 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.