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John Crane expands Chinese manufacturing operations
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Norwegian private equity firm acquires majority stake in PG Group
N
orvestor VI LP, a fund advised by Norvestor Equity AS, has signed an agreement to invest in Norway’s Ing Per Gjerdrum AS (PG Group). PG is a group of companies specializing in liquid handling solutions and operating within the offshore oil & gas and maritime industries. The core business is pumps and pumping systems. The company had revenues of NOK552 million in 2013. “Our partnership with Norvestor marks the end of an era with Per Gjerdrum stepping back after 32 years with PG,” said PG CEO Roy Norum. “I am confident that we, through Norvestor, have found the ideal way of taking PG to the next level. Our combined network, experience and competence will allow PG to thrive as we continue to develop the company.” “After several years of major investments in infrastructure and resources PG has grown both its capacity and capability within its core businesses, and we believe the company is set to capitalize on this in the coming years,” said Per-Ola Baalerud, a Norvestor Equity partner and chairman designate of PG. Following the acquisition, Norvestor will become the largest shareholder in PG with a 63% stake, while the remaining shares will be held by Mads Gjerdrum and Norum. For further information, visit www.pg-marinegroup. com and www.norvestor.com
Knox Capital invests in Stancor
U
S private investment firm Knox Capital Holdings LLC has become a significant shareholder of electric submersible pump producer Stancor Inc. Headquartered in Monroe, Connecticut, Stancor designs and manufactures electric submersible pumps, controls and related replacement parts and accessories for critical heavy industrial applications in the mining, utility, commercial construction and wastewater industries. Stancor management will now work closely with Knox Capital’s operating team, led by 16
Pump Industry Analyst
principal Tom Nugent, to manage a transition for Stancor’s existing owners and employees. Alex Gregor, founder and principal at Knox Capital, said: “Our investment in Stancor is a direct result of our focus on providing the management plan needed to reach a new plateau of long-term, sustainable growth. We are excited about Stancor’s potential.” Alan Tenney, president of Stancor, said: “This transaction represents a very significant milestone for Stancor. Knox Capital’s access to sizable permanent capital resources, along with the experience and expertise of Mr Gregor and his team, will provide management with an opportunity to grow in the marketplace, expanding its product and service offerings, and to focus on ensuring the best outcome for the business, including its customers, suppliers and employees.” Longview Asset Management and Bratenahl Capital invested alongside Knox Capital. For further information, visit www.stancorpumps.com and www.knox-cap.com
John Crane expands Chinese manufacturing operations
S
ealing specialist John Crane has made a number of investments in its Tianjin, China facility to meet the growing demand from energy services customers. The investments include new advanced machines to expand the service centre’s aftermarket capabilities; four new product lines added to the manufacturing operations; a new training centre to support customized training for customers and employees; and a new global R&D technology centre to bring new technologies and local engineering expertise to the Chinese market. John Crane is also increasing gas seal capabilities at the Tianjin facility. Zhenning Mao, John Crane’s vice president of China, said: “We’re investing in our China business at the highest levels in our history. Expanding our manufacturing capabilities means we can bring customers new products faster and with better quality. And with new machines in our service centre, we’re able to offer customers new aftermarket services to improve reliability in their operations.”
For further information, visit www.johncrane.com
Editorial Office: Elsevier Limited, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843933 Web: www.pumpindustryanalyst.com Editor: Roisin Reidy E-mail: [email protected] Production Support Manager: Lin Lucas E-mail: [email protected] Publisher: David Hopwood Subscription Information An annual subscription to Pump Industry Analyst includes 12 issues and online access for up to 5 users. Prices: E1356 for all European countries & Iran US$1520 for all countries except Europe and Japan ¥180 300 for Japan (Prices valid until 31 December 2014) To subscribe send payment to the address above. Tel: +44 (0)1865 843687 or via www.pumpindustryanalyst.com Subscriptions run for 12 months, from the date payment is received. Permissions may be sought directly from Elsevier Rights & Permissions Department, PO Box 800, Oxford OX5 1DX, UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, email: permissions@ elsevier.com. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.com), selecting first ‘Customer Support’, then ‘General Information’, then Permissions Query Form’. In the USA, users may clear permissions and make payments through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; phone: (978) 7508400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London W1P 0LP, UK; phone: (+44) 207 436 5931; fax: (+44) 207 436 3986. Other countries may have a local reprographic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Per mission of the publisher is required for resale or distribution outside the institution. Permission of the publisher is required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permissions requests to: Elsevier Rights & Permissions Department, at the mail, fax and email addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
Digitally Produced by Mayfield Press (Oxford) LImited 12979
October 2014
Norwegian private equity firm acquires majority stake in PG Group
N
orvestor VI LP, a fund advised by Norvestor Equity AS, has signed an agreement to invest in Norway’s Ing Per Gjerdrum AS (PG Group). PG is a group of companies specializing in liquid handling solutions and operating within the offshore oil & gas and maritime industries. The core business is pumps and pumping systems. The company had revenues of NOK552 million in 2013. “Our partnership with Norvestor marks the end of an era with Per Gjerdrum stepping back after 32 years with PG,” said PG CEO Roy Norum. “I am confident that we, through Norvestor, have found the ideal way of taking PG to the next level. Our combined network, experience and competence will allow PG to thrive as we continue to develop the company.” “After several years of major investments in infrastructure and resources PG has grown both its capacity and capability within its core businesses, and we believe the company is set to capitalize on this in the coming years,” said Per-Ola Baalerud, a Norvestor Equity partner and chairman designate of PG. Following the acquisition, Norvestor will become the largest shareholder in PG with a 63% stake, while the remaining shares will be held by Mads Gjerdrum and Norum. For further information, visit www.pg-marinegroup. com and www.norvestor.com
Knox Capital invests in Stancor
U
S private investment firm Knox Capital Holdings LLC has become a significant shareholder of electric submersible pump producer Stancor Inc. Headquartered in Monroe, Connecticut, Stancor designs and manufactures electric submersible pumps, controls and related replacement parts and accessories for critical heavy industrial applications in the mining, utility, commercial construction and wastewater industries. Stancor management will now work closely with Knox Capital’s operating team, led by 16
Pump Industry Analyst
principal Tom Nugent, to manage a transition for Stancor’s existing owners and employees. Alex Gregor, founder and principal at Knox Capital, said: “Our investment in Stancor is a direct result of our focus on providing the management plan needed to reach a new plateau of long-term, sustainable growth. We are excited about Stancor’s potential.” Alan Tenney, president of Stancor, said: “This transaction represents a very significant milestone for Stancor. Knox Capital’s access to sizable permanent capital resources, along with the experience and expertise of Mr Gregor and his team, will provide management with an opportunity to grow in the marketplace, expanding its product and service offerings, and to focus on ensuring the best outcome for the business, including its customers, suppliers and employees.” Longview Asset Management and Bratenahl Capital invested alongside Knox Capital. For further information, visit www.stancorpumps.com and www.knox-cap.com
John Crane expands Chinese manufacturing operations
S
ealing specialist John Crane has made a number of investments in its Tianjin, China facility to meet the growing demand from energy services customers. The investments include new advanced machines to expand the service centre’s aftermarket capabilities; four new product lines added to the manufacturing operations; a new training centre to support customized training for customers and employees; and a new global R&D technology centre to bring new technologies and local engineering expertise to the Chinese market. John Crane is also increasing gas seal capabilities at the Tianjin facility. Zhenning Mao, John Crane’s vice president of China, said: “We’re investing in our China business at the highest levels in our history. Expanding our manufacturing capabilities means we can bring customers new products faster and with better quality. And with new machines in our service centre, we’re able to offer customers new aftermarket services to improve reliability in their operations.”
For further information, visit www.johncrane.com
Editorial Office: Elsevier Limited, The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843933 Web: www.pumpindustryanalyst.com Editor: Roisin Reidy E-mail: [email protected] Production Support Manager: Lin Lucas E-mail: [email protected] Publisher: David Hopwood Subscription Information An annual subscription to Pump Industry Analyst includes 12 issues and online access for up to 5 users. Prices: E1356 for all European countries & Iran US$1520 for all countries except Europe and Japan ¥180 300 for Japan (Prices valid until 31 December 2014) To subscribe send payment to the address above. Tel: +44 (0)1865 843687 or via www.pumpindustryanalyst.com Subscriptions run for 12 months, from the date payment is received. Permissions may be sought directly from Elsevier Rights & Permissions Department, PO Box 800, Oxford OX5 1DX, UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, email: permissions@ elsevier.com. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.com), selecting first ‘Customer Support’, then ‘General Information’, then Permissions Query Form’. In the USA, users may clear permissions and make payments through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; phone: (978) 7508400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London W1P 0LP, UK; phone: (+44) 207 436 5931; fax: (+44) 207 436 3986. Other countries may have a local reprographic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Per mission of the publisher is required for resale or distribution outside the institution. Permission of the publisher is required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permissions requests to: Elsevier Rights & Permissions Department, at the mail, fax and email addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
Digitally Produced by Mayfield Press (Oxford) LImited 12979
October 2014