- Email: [email protected]
DXP Enterprises acquires Californian pump distributor
IN BRIEF/NEWS
In Brief UÊ CECO Environmental Corp has completed its acquisition of PMFG Inc, a provider of engineered equipment for the abatement of air pollution, the separation and filtration of contaminants from gases and liquids, and industrial noise control equipment (see Pump Industry Analyst, May 2015). The acquisition creates a global industrial technology company with combined pro forma revenues of US$500 million. CECO Environmental paid approximately US$65 million in cash and issued around 7.6 million shares of its common stock to prior PMFG shareholders. www.cecoenviro.com UÊ 7À}Ê ÜÌ Ê -VÌÌÃ Ê >ÀÌÃÌÊ iÞÊ Hunter and Glasgow’s House for an Art Lover, Weir Group has cast a life-size Asian elephant at its foundry in Todmorden, Yorkshire, UK. It has been created in part using now redundant and scrap locomotive parts made in the shipyards of nearby Govan and exported to the Commonwealth. The 11 tonne elephant, unveiled on the site of the 1938 Empire Exhibition in Glasgow’s Bellahouston Park, is part of the Legacy 2014 project and commemorates the city’s hosting of the Commonwealth Games last year. “Weir exhibited at the Empire Exhibition in 1938 and as a Glasgow-based global engineering business, we have operations in many Commonwealth countries,” said William Mannion, operations director of Weir Minerals Europe Todmorden. “As engineers, we always like a challenge and creating a life-sized Asian elephant is one of the more unusual requests we’ve had, but we are delighted it has been such a success.” www.weir.co.uk UÊ ÎÈÊ «i«iÊ «>ÀÌV«>Ìi`Ê Ê `ÕÃÌÀ>Ê water pump seminars that Ebara Corp ran in Bangkok, Thailand from 27 August to 2 September 2015. This was the 25th time that Ebara held seminars in cooperation with the Asian Institute of Technology (AIT). www.ebara.co.th and www.ebara.co.jp UÊ Xylem Inc is supporting Gulf Specimen Marine Laboratory, an independent nonfor-profit sea turtle rehabilitation facility and marine life education centre based in Panacea, Florida, by providing water treatment technology at cost. www.xyleminc.com 12
Pump Industry Analyst
DXP Enterprises acquires Californian pump distributor
D
XP Enterprises Inc has bought Cortech Engineering LLC, a distributor of pumps and related process equipment for southern and central California and southern Nevada, USA. Founded in 1987, Cortech Engineering operates from three Californian locations: Yorba Linda, where it has its headquarters, Bakersfield and National City. The company employs around 55 people and serves customers in the municipal, water and wastewater, general industrial, chemical and marine markets. For the 12 months ended 31 July 2015, Cortech Engineering had sales of approximately US$26.2 million and adjusted EBITDA of US$3.0 million. “We are excited to utilise Cortech’s experience to bolster our market share in the municipal wastewater treatment, water treatment and desalination markets for California, the West Coast and throughout the United States. With Cortech, we continue to build on our strategy of providing a breadth of technical products and services on a regional and local level. Cortech provides us immediate access to the US Western seaboard, while allowing us to continue to serve our customers’ evolving needs,” said DXP Enterprises CEO David Little. Kent Yee, senior vice president corporate development at DXP Enterprises, added: “Cortech is another exciting addition to DXP and our efforts to be a premier distributor. Cortech provides us with immediate access into a geographic region we have not historically served. Cortech complements and diversifies DXP’s products and end markets. Cortech’s local market expertise combined with DXP’s size and scale will help us provide better customer solutions and additional expansion opportunities.” “DXP is the perfect partner to expand our business in our present and future markets. We are aligned in our core belief that solving customers’ problems and offering cost effective solutions should be our top priority. DXP has a great legacy of growth and we plan to continue that growth. We are excited for the next stage of Cortech and helping DXP become a dominant force on the Western side of the United States,” said John Pugh, president of Cortech Engineering.
For further information, visit www.dxpe.com and www.cortecheng.com
Pentair partners with Urban Organics to advance aquaponics
P
entair plc is teaming up with Urban Organics LLC to accelerate the development of large-scale commercial aquaponics. Aquaponics is the combined culture of fish and hydroponic vegetable crops in a closedloop, recirculating aquaculture system. In aquaponics, fish provide the nutrients that plants need to grow, and the plants act as a filter to improve the water quality for the fish. The Pentair and Urban Organics venture will initially set up and operate an 87 000 sq ft indoor aquaponics facility in St Paul, Minnesota. This will be one of the largest commercial aquaponics facilities in the world and will have the potential to annually produce 275 000 lbs of fresh char, salmon or trout, and 400 000 lbs of organically grown produce, including hydroponic basil, mint, kale, chard, lettuce and watercress. Construction plans for the new facility are already underway, with harvesting of the first produce and fish expected by summer 2016. “Aquaculture and aquaponics have the potential to help the world meet its growing need for protein, and we have the technologies and expertise to help grow the industry while sustainably producing food with less waste, energy and water,” said Randall Hogan, Pentair chairman and CEO. “The collaboration with Urban Organics is one more step in our efforts to help this new industry bring healthy food to developing countries, arid climates and space-challenged urban centres.” “The founders of Urban Organics are very excited to collaborate with Pentair to bring commercial scale aquaponics farming into the main stream,” said David Haider, co-founder of Urban Organics and manager of the new St Paul facility. “Our customers have encouraged us to expand and with our new operations we will provide them with consistent, weekly supplies of fresh fish and produce harvested locally at our urban farm throughout the year.” The two companies first started working together when Urban Organics opened its inaugural aquaponics farm in 2014 in St Paul.
September 2015
In Brief UÊ CECO Environmental Corp has completed its acquisition of PMFG Inc, a provider of engineered equipment for the abatement of air pollution, the separation and filtration of contaminants from gases and liquids, and industrial noise control equipment (see Pump Industry Analyst, May 2015). The acquisition creates a global industrial technology company with combined pro forma revenues of US$500 million. CECO Environmental paid approximately US$65 million in cash and issued around 7.6 million shares of its common stock to prior PMFG shareholders. www.cecoenviro.com UÊ 7À}Ê ÜÌ Ê -VÌÌÃ Ê >ÀÌÃÌÊ iÞÊ Hunter and Glasgow’s House for an Art Lover, Weir Group has cast a life-size Asian elephant at its foundry in Todmorden, Yorkshire, UK. It has been created in part using now redundant and scrap locomotive parts made in the shipyards of nearby Govan and exported to the Commonwealth. The 11 tonne elephant, unveiled on the site of the 1938 Empire Exhibition in Glasgow’s Bellahouston Park, is part of the Legacy 2014 project and commemorates the city’s hosting of the Commonwealth Games last year. “Weir exhibited at the Empire Exhibition in 1938 and as a Glasgow-based global engineering business, we have operations in many Commonwealth countries,” said William Mannion, operations director of Weir Minerals Europe Todmorden. “As engineers, we always like a challenge and creating a life-sized Asian elephant is one of the more unusual requests we’ve had, but we are delighted it has been such a success.” www.weir.co.uk UÊ ÎÈÊ «i«iÊ «>ÀÌV«>Ìi`Ê Ê `ÕÃÌÀ>Ê water pump seminars that Ebara Corp ran in Bangkok, Thailand from 27 August to 2 September 2015. This was the 25th time that Ebara held seminars in cooperation with the Asian Institute of Technology (AIT). www.ebara.co.th and www.ebara.co.jp UÊ Xylem Inc is supporting Gulf Specimen Marine Laboratory, an independent nonfor-profit sea turtle rehabilitation facility and marine life education centre based in Panacea, Florida, by providing water treatment technology at cost. www.xyleminc.com 12
Pump Industry Analyst
DXP Enterprises acquires Californian pump distributor
D
XP Enterprises Inc has bought Cortech Engineering LLC, a distributor of pumps and related process equipment for southern and central California and southern Nevada, USA. Founded in 1987, Cortech Engineering operates from three Californian locations: Yorba Linda, where it has its headquarters, Bakersfield and National City. The company employs around 55 people and serves customers in the municipal, water and wastewater, general industrial, chemical and marine markets. For the 12 months ended 31 July 2015, Cortech Engineering had sales of approximately US$26.2 million and adjusted EBITDA of US$3.0 million. “We are excited to utilise Cortech’s experience to bolster our market share in the municipal wastewater treatment, water treatment and desalination markets for California, the West Coast and throughout the United States. With Cortech, we continue to build on our strategy of providing a breadth of technical products and services on a regional and local level. Cortech provides us immediate access to the US Western seaboard, while allowing us to continue to serve our customers’ evolving needs,” said DXP Enterprises CEO David Little. Kent Yee, senior vice president corporate development at DXP Enterprises, added: “Cortech is another exciting addition to DXP and our efforts to be a premier distributor. Cortech provides us with immediate access into a geographic region we have not historically served. Cortech complements and diversifies DXP’s products and end markets. Cortech’s local market expertise combined with DXP’s size and scale will help us provide better customer solutions and additional expansion opportunities.” “DXP is the perfect partner to expand our business in our present and future markets. We are aligned in our core belief that solving customers’ problems and offering cost effective solutions should be our top priority. DXP has a great legacy of growth and we plan to continue that growth. We are excited for the next stage of Cortech and helping DXP become a dominant force on the Western side of the United States,” said John Pugh, president of Cortech Engineering.
For further information, visit www.dxpe.com and www.cortecheng.com
Pentair partners with Urban Organics to advance aquaponics
P
entair plc is teaming up with Urban Organics LLC to accelerate the development of large-scale commercial aquaponics. Aquaponics is the combined culture of fish and hydroponic vegetable crops in a closedloop, recirculating aquaculture system. In aquaponics, fish provide the nutrients that plants need to grow, and the plants act as a filter to improve the water quality for the fish. The Pentair and Urban Organics venture will initially set up and operate an 87 000 sq ft indoor aquaponics facility in St Paul, Minnesota. This will be one of the largest commercial aquaponics facilities in the world and will have the potential to annually produce 275 000 lbs of fresh char, salmon or trout, and 400 000 lbs of organically grown produce, including hydroponic basil, mint, kale, chard, lettuce and watercress. Construction plans for the new facility are already underway, with harvesting of the first produce and fish expected by summer 2016. “Aquaculture and aquaponics have the potential to help the world meet its growing need for protein, and we have the technologies and expertise to help grow the industry while sustainably producing food with less waste, energy and water,” said Randall Hogan, Pentair chairman and CEO. “The collaboration with Urban Organics is one more step in our efforts to help this new industry bring healthy food to developing countries, arid climates and space-challenged urban centres.” “The founders of Urban Organics are very excited to collaborate with Pentair to bring commercial scale aquaponics farming into the main stream,” said David Haider, co-founder of Urban Organics and manager of the new St Paul facility. “Our customers have encouraged us to expand and with our new operations we will provide them with consistent, weekly supplies of fresh fish and produce harvested locally at our urban farm throughout the year.” The two companies first started working together when Urban Organics opened its inaugural aquaponics farm in 2014 in St Paul.
September 2015