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Peerless sells heat transfer business
NEWS/DIVIDENDS For further information, visit www.aquatech.com, www.nanostone.com, www.xyleminc.com and www. energy.gov/ia/joint-trade-mission-china
Peerless sells heat transfer business
Cathelco acquires French desalinator maker
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raesidian Capital is investing US$11.4 million in first-lien debt in Aquasana Inc, a Texas, USA-based provider of residential water filtration systems and replacement cartridges. The filtration company has been held by consumer-focused private equity firm Catterton since 2009. Aquasana’s products are sold predominantly online in a direct-to-consumer business model through its own website, as well as through online retailers such as Amazon, QVC, Home Depot and Costco. “We offer our 200 000 active customers the most effective products on the market coupled with the ease of online ordering. In the past five years, we have achieved 50% growth in sales through product innovation, customer acquisition, and new distribution strategies in the US and abroad,” said Aquasana CEO Todd Bartee. Praesidian Capital partner Jon Mansfield said: “We are pleased to take part in the US$2.7 billion water filtration industry. Aquasana has tapped a niche in an industry focused on health and environment, and we look forward to supporting management and Catterton’s vision for strategic growth.”
arine equipment manufacturer Cathelco Ltd has bought HydroElectrique Marine (HEM), a French specialist in desalinators and water treatment systems. The acquisition will make Cathelco one of the largest producers of shipboard water treatment systems in Europe. “The new venture will operate under the name of Cathelco HEM emphasising the strength of two well known brand names and creating a stronger presence in the water treatment market,” said Justin Salisbury, managing director of Cathelco. HEM equipment will continue to be manufactured at the company’s facility near Antibes in the south of France. This will also provide Cathelco with a technical support and stockholding hub in the Mediterranean. Cathelco already has a presence in the desalinator market having acquired UK-based Seafresh Desalinators in 2010. Currently, Cathelco Seafresh desalinators have a maximum output of 35 tonnes per day, whereas the HEM range have outputs of up to 150 tonnes making them suitable for use on large commercial vessels and naval craft. “The HEM range greatly increases the scope for desalinator sales and provides a good fit with our existing range,” added Salisbury. “The HEM equipment is a natural extension to our product range. It will enable us to provide a complete equipment package for commercial vessels and superyachts which we can support through our combined network of agent/installers.” Ingemar Grip, one of the founders of HEM, will remain at the helm of the business as president. “I am very excited about this development as it will give us a wider base and bigger capacity in the supply and service of water systems to our clients. The excellent reputation of Cathelco in the market place and their work ethics is fully in line with those of HEM, so the marriage of the two companies should be a very easy process with notable benefits for our clients, present and future, as well as for Cathelco and HEM,” said Grip.
For further information, visit www.aquasana.com, www.praesidian.com and www.catterton.com
For further information, visit www.cathelco.com and www.hemwater.com
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eerless Mfg Co has sold its Alco, Alco-Twin and Bos-Hatten brands of heat exchangers to Koch Heat Transfer Co LP. “As part of the ongoing strategy to streamline our operations and focus on our core strengths, we have decided to divest our heat transfer business,” said Peter Burlage, chairman and CEO of PMFG Inc, the parent company of Peerless. “We believe the divestiture will allow greater focus on our company’s pressure products, nuclear and environmental product solutions, while enabling us to better optimize our supply chain.”
For further information, visit www.peerlessmfg.com
Aquasana secures new funding
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April 2015
Dividends UÊ Pentair plc will pay a regular quarterly cash dividend of US$0.32 per share on 8 May 2015 to shareholders of record on 24 April 2015. An annual cash dividend of US$1.28 per share will be paid in four equal quarterly instalments in 2015 (see Filtration Industry Analyst, December 2014). Pentair paid dividends of US$1.10 per share in 2014. Pentair has increased its dividend for 39 consecutive years. www.pentair.com UÊ Pall Corp’s board of directors has declared a quarterly dividend of US$0.305 per share. The dividend is payable on 8 May 2015 to shareholders of record on 25 April 2015. www.pall.com UÊ Parker Hannifin Corp’s regular quarterly cash dividend of US$0.63 per share of common stock will be paid to shareholders on 5 June 2015. This is the company’s 260th consecutive quarterly dividend. Parker has increased its annual dividends paid to shareholders for 59 consecutive fiscal years. www.parker.com UÊ Watts Water Technologies Inc is increasing its quarterly dividend by 13.3%, or US$0.02 per share, to US$0.17 per share for the second quarter of 2015. Commenting on the improved dividend, Watts Water CEO Robert Pagano said: “The dividend increase helps to maintain our dividend yield within a range we have historically targeted. This initiative is part of our ongoing cash allocation strategy and our commitment to return value to shareholders. We remain committed to our long-term growth strategy of growing the business, organically and through acquisitions.” www.wattswater.com UÊ Nederman’s recent AGM approved the board’s and CEO’s proposal for a 2014 shareholder dividend of SEK4.0 per share. www.nederman.com UÊ Exterran Holdings Inc’s quarterly dividend of US$0.15 per share of common stock will be paid on 18 May 2015 to stockholders of record on 11 May 2015. www.exterran.com
Filtration Industry Analyst
5
Peerless sells heat transfer business
Cathelco acquires French desalinator maker
M
raesidian Capital is investing US$11.4 million in first-lien debt in Aquasana Inc, a Texas, USA-based provider of residential water filtration systems and replacement cartridges. The filtration company has been held by consumer-focused private equity firm Catterton since 2009. Aquasana’s products are sold predominantly online in a direct-to-consumer business model through its own website, as well as through online retailers such as Amazon, QVC, Home Depot and Costco. “We offer our 200 000 active customers the most effective products on the market coupled with the ease of online ordering. In the past five years, we have achieved 50% growth in sales through product innovation, customer acquisition, and new distribution strategies in the US and abroad,” said Aquasana CEO Todd Bartee. Praesidian Capital partner Jon Mansfield said: “We are pleased to take part in the US$2.7 billion water filtration industry. Aquasana has tapped a niche in an industry focused on health and environment, and we look forward to supporting management and Catterton’s vision for strategic growth.”
arine equipment manufacturer Cathelco Ltd has bought HydroElectrique Marine (HEM), a French specialist in desalinators and water treatment systems. The acquisition will make Cathelco one of the largest producers of shipboard water treatment systems in Europe. “The new venture will operate under the name of Cathelco HEM emphasising the strength of two well known brand names and creating a stronger presence in the water treatment market,” said Justin Salisbury, managing director of Cathelco. HEM equipment will continue to be manufactured at the company’s facility near Antibes in the south of France. This will also provide Cathelco with a technical support and stockholding hub in the Mediterranean. Cathelco already has a presence in the desalinator market having acquired UK-based Seafresh Desalinators in 2010. Currently, Cathelco Seafresh desalinators have a maximum output of 35 tonnes per day, whereas the HEM range have outputs of up to 150 tonnes making them suitable for use on large commercial vessels and naval craft. “The HEM range greatly increases the scope for desalinator sales and provides a good fit with our existing range,” added Salisbury. “The HEM equipment is a natural extension to our product range. It will enable us to provide a complete equipment package for commercial vessels and superyachts which we can support through our combined network of agent/installers.” Ingemar Grip, one of the founders of HEM, will remain at the helm of the business as president. “I am very excited about this development as it will give us a wider base and bigger capacity in the supply and service of water systems to our clients. The excellent reputation of Cathelco in the market place and their work ethics is fully in line with those of HEM, so the marriage of the two companies should be a very easy process with notable benefits for our clients, present and future, as well as for Cathelco and HEM,” said Grip.
For further information, visit www.aquasana.com, www.praesidian.com and www.catterton.com
For further information, visit www.cathelco.com and www.hemwater.com
P
eerless Mfg Co has sold its Alco, Alco-Twin and Bos-Hatten brands of heat exchangers to Koch Heat Transfer Co LP. “As part of the ongoing strategy to streamline our operations and focus on our core strengths, we have decided to divest our heat transfer business,” said Peter Burlage, chairman and CEO of PMFG Inc, the parent company of Peerless. “We believe the divestiture will allow greater focus on our company’s pressure products, nuclear and environmental product solutions, while enabling us to better optimize our supply chain.”
For further information, visit www.peerlessmfg.com
Aquasana secures new funding
P
April 2015
Dividends UÊ Pentair plc will pay a regular quarterly cash dividend of US$0.32 per share on 8 May 2015 to shareholders of record on 24 April 2015. An annual cash dividend of US$1.28 per share will be paid in four equal quarterly instalments in 2015 (see Filtration Industry Analyst, December 2014). Pentair paid dividends of US$1.10 per share in 2014. Pentair has increased its dividend for 39 consecutive years. www.pentair.com UÊ Pall Corp’s board of directors has declared a quarterly dividend of US$0.305 per share. The dividend is payable on 8 May 2015 to shareholders of record on 25 April 2015. www.pall.com UÊ Parker Hannifin Corp’s regular quarterly cash dividend of US$0.63 per share of common stock will be paid to shareholders on 5 June 2015. This is the company’s 260th consecutive quarterly dividend. Parker has increased its annual dividends paid to shareholders for 59 consecutive fiscal years. www.parker.com UÊ Watts Water Technologies Inc is increasing its quarterly dividend by 13.3%, or US$0.02 per share, to US$0.17 per share for the second quarter of 2015. Commenting on the improved dividend, Watts Water CEO Robert Pagano said: “The dividend increase helps to maintain our dividend yield within a range we have historically targeted. This initiative is part of our ongoing cash allocation strategy and our commitment to return value to shareholders. We remain committed to our long-term growth strategy of growing the business, organically and through acquisitions.” www.wattswater.com UÊ Nederman’s recent AGM approved the board’s and CEO’s proposal for a 2014 shareholder dividend of SEK4.0 per share. www.nederman.com UÊ Exterran Holdings Inc’s quarterly dividend of US$0.15 per share of common stock will be paid on 18 May 2015 to stockholders of record on 11 May 2015. www.exterran.com
Filtration Industry Analyst
5