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PumpMan makes two acquisitions
NEWS/IN BRIEF enhancing the lives of people in our communities around the world,” said Damian Willoughby, senior vice president of Partnership at City Football Group. “We are excited to harness the global appeal of football to raise awareness of water challenges and support Xylem’s efforts to tackle these issues.” The partnership was announced at an event during Singapore International Water Week. For further information, visit www.xylem.com, www.mancity.com and www.xylemwatermark.com
Weir completes acquisition of ESCO Corp
T
he Weir Group plc has completed the acquisition of ESCO Corp, a global leader in surface mining ground engaging tools (GET) for an estimated enterprise value of US$1285 million (see Pump Industry Analyst, April 2018). Weir Group CEO Jon Stanton said: “I am delighted that ESCO has formally become part of the Weir Group. ESCO brings a strong global leadership position and adds another premium brand to our portfolio of market-leading products and services.” ESCO will operate as a new division of the Weir Group, and will be reported as a separate segment alongside Minerals and Oil & Gas. With Weir Group intending to sell its Flow Control Division, the results of that division will now be reported as discontinued operations. Jon Owens, formerly president and chief operating officer of ESCO Corp, will lead Weir’s ESCO division as president. Owens has joined Weir’s group executive and become a Person Discharging Managerial Responsibilities (PDMR). Cal Collins, the former chairman and CEO of ESCO Corp, has joined the Weir Group plc board as a non-executive director and PDMR.
For further information, visit www.global.weir and www.escocorp.com
PumpMan makes two acquisitions
I
n the US, PumpMan Holdings LLC has completed the acquisition
July 2018
of Healdsburg, California-based Groundwater Pump & Well and Phoenix, Arizona-based Southwest Waterworks Contractors Inc. Groundwater Pump & Well has provided clean water solutions for the residential, commercial, agriculture, water treatment, and well-rehabilitation industries since 1990. Later this year, PumpMan will integrate Groundwater into its Santa Rosabased Bartley Pump, relocating employees, equipment and inventory. “Coupling Groundwater’s employees and technical competencies with the experience and institutional knowledge of Bartley Pump positions the company for growth and success in Northern California,” said Donald Devine, president and CEO of PumpMan. “This bolt-on acquisition is key to developing scale in the region, and growing the company into a strong nationwide player in the industry.” Ron Foster Sr, president of Groundwater Pump & Well, and his son Ron Foster Jr will remain with the company post acquisition. As part of PumpMan, the Bartley and Groundwater brands will remain active and add “A PumpMan NorCal Company” at year-end. Southwest Waterworks Contractors, which specialises in the design, installation and repair of pumps and pump systems, serves the municipal and private utility markets in the greater Phoenix metropolitan area. “Phoenix is one of the fastest growing metropolitan areas in the US, adding more than a million residents since 2000,” said Devine. “With this rapid growth, there’s a tremendous need for increased capabilities and scale within the water and wastewater industry. We look forward to building on the knowledge and expertise of Southwest Waterworks and providing the tools and support necessary to enable the company to meet the region’s increased water demands.” John Baily and Mike Richardson, the former owners of Southwest Waterworks Contractors, will continue to lead the company and support near-term growth initiatives. As part of the PumpMan network, the company will transition to “A PumpMan Phoenix Company” later this year. “Both PumpMan and Southwest Waterworks share the same values and commitment to our customers and technicians. Therefore, it was a natural fit for Southwest to become a part of this rapidly growing network and provide long-term stability for our employees,” said Bailey and Richardson. “PumpMan will be able to build
In Brief • Eighty three people attended Ebara Corp’s pump technology seminar at the Institute of Technology of Cambodia (ITC) in Phnom Penh, Cambodia in June 2018. The Ebara lectures focused on pump basics and planning pumping stations used for water supply facilities. The Japanese pump company has held more than 20 seminars in Cambodia. Agriculture is the main industry in Cambodia and many pumps are used for irrigation. In addition, demand for water supply and sewerage pumps in Cambodia is increasing with urbanization. www.ebara.co.jp • Sulzer is celebrating 70 years since it started operations in Brazil and its first manufacturing site in São Bernardo do Campo, São Paulo. Since the first machine was imported from Switzerland in 1948, Sulzer has continued to grow its businesses in Brazil. Starting with small and medium-sized pumps for general industrial use through pumps for oil and gas industries, large pumps for water transportation, compressors and specialised services in turbines and other critical rotating equipment, Sulzer has continued to expand its portfolio. Over the years, Sulzer in Brazil has designed, manufactured, delivered and serviced equipment all around the world. Flavio Romero, director of Services for South America, said: “Today, Sulzer’s operations in Brazil continue to grow and our pumps continue to help in the development of the country.” www.sulzer.com • Evoqua Water Technologies Corp has completed its acquisition of ProAct Services Corp from private equity firm Hammond, Kennedy, Whitney & Company Inc (see Pump Industry Analyst, June 2018). With annual revenues of US$54 million, ProAct Services provides on-site treatment services of contaminated water in all 50 US states. ProAct Services will now operate as a separate division within Evoqua’s Industrial Segment and will continue to be based in Ludington, Michigan with facilities in California, Florida, Michigan, Minnesota, New Jersey, Virginia and Texas. www.evoqua.com and www.proact-usa.com
Pump Industry Analyst
3
DIVIDENDS/NEWS
Dividends • Spain’s Fluidra SA will not distribute dividends this year, although it anticipates resuming payments to shareholders in 2019 after deleveraging the debt arising from the merger with the US company Zodiac (see Pump Industry Analyst, November 2017). www.fluidra.com and www.zodiac.com • The Weir Group plc board of directors has approved an interim dividend of 15.75p, up from 15.0p in 2017. This year’s interim dividend will be paid on 2 November 2018 to shareholders on the register on 12 October 2018. www.global.weir • Lindsay Corp’s board has announced a regular quarterly cash dividend of US$0.31 per share, payable on 31 August 2018, to shareholders of record on 17 August 2018. This quarterly cash dividend rate represents a 3.3% increase in the previous quarterly indicated rate of US$0.30 per share. The new annual indicated rate is US$1.24 per share, up from last year’s US$1.20 per share. At 19 March 2018, Lindsay had approximately 10.8 million shares outstanding. Lindsay’s shares are traded on the New York Stock Exchange under the symbol LNN. www.lindsay.com • The Gorman-Rupp Co board has declared a quarterly cash dividend of US$0.125 per share on the company’s common stock, which is payable on 10 September 2018, to shareholders of record on 15 August 2018. This will mark the 274th consecutive quarterly dividend paid by Gorman-Rupp. www.gorman-rupp.com • Franklin Electric Co Inc’s next quarterly cash dividend of US$0.12 per share will be payable on 16 August 2018 to shareowners of record on 2 August 2018. www.franklin-electric.com
on the success of our hard work, and we look forward to watching it grow.” PumpMan Holdings, a Soundcore Capital Partners LLC portfolio company, was formed in 2016 following the acquisition of Baldwin Park, California-based PumpMan Inc (see Pump Industry Analyst, September 2016). PumpMan currently provides onsite service, repair, parts and expertise to the commercial, municipal and industrial markets in Southern California (PumpMan SoCal), Northern California (Bartley Pump), the Greater Philadelphia area (PumpMan Philly), the Pittsburgh market (PumpMan Pittsburgh), and the New York Metro Area (Federal Pump). For further information, visit www.pumpman.com, www.groundwaterpumpandwell.com, www.southwestwaterworkscontractors.com and www.soundcorecap.com
Netzsch opens new pump service centre in Texas
N
etzsch Pumps North America LLC has set up a new service centre just north of Houston, Texas, USA providing field service, rental equipment and other pump services. The 4900 sq ft warehouse and office space allows Netzsch to deliver local service to pump customers throughout Texas. The new Netzsch Sales & Service Center will be a base for local technical support, inventory and its AWS certified field service technician. The Netzsch Service Center features an onsite pump stand, enabling customers to witness hydraulic tests on repaired or new pumps before they are installed on their plant site. The Netzsch Service Center will also have rental stock for customers looking to test the T2 rotary lobe pump within their new or existing systems. The facility also has a 1-ton crane, forklift and fully outfitted service truck for field service needs. For further information, visit www.pumps.netzsch.com
4
Pump Industry Analyst
Grundfos to host global customer forum online
P
ump manufacturer Grundfos is opening its global customer forum to the world through a virtual conference. In a first for the event, the Grundfos Forum 2018 will be broadcasting from Suzhou, China via a virtual conference. This will give professionals from all over the world the opportunity to hear from engineers, government leaders, consultants, academics and other key decision-makers about ways to move and manage the world’s water, under this year’s theme of ‘Intelligent Connectivity’. The virtual conference will be broadcast live on 15 and 16 August 2018, and OnDemand from 17 August to 14 October 2018. As well as accessing talks, events and breakout sessions, participants will also get to take part in the forum’s interactive spaces, interact with forum participants, and chat with experts while exploring the exhibition area. “We have received tremendous feedback from business leaders and our customers about the insight and learnings that they have gained from attending our forum over the years,” said Kim Jensen, regional managing director of Grundfos Asia Pacific region. “This year, we are hosting the conference online so that we can reach more industry professionals who are not able to make it to the event in person.” “Just as how technology has changed our relationship with water, it has transformed the way we get to engage with one another. With the virtual conference, people will not only get to tap into a wealth of knowledge, but also actively participate in the discussions with our experts and other participants.” To encourage greater engagement, online participants will also be automatically enrolled into the leaderboard challenge, where points are gained through participation. The top five participants will win a trip to Grundfos’s headquarters in Bjerringbro, Denmark. Register for the Virtual Conference at https://grundfos.6connex.com/event/Forum2018/login
July 2018
Weir completes acquisition of ESCO Corp
T
he Weir Group plc has completed the acquisition of ESCO Corp, a global leader in surface mining ground engaging tools (GET) for an estimated enterprise value of US$1285 million (see Pump Industry Analyst, April 2018). Weir Group CEO Jon Stanton said: “I am delighted that ESCO has formally become part of the Weir Group. ESCO brings a strong global leadership position and adds another premium brand to our portfolio of market-leading products and services.” ESCO will operate as a new division of the Weir Group, and will be reported as a separate segment alongside Minerals and Oil & Gas. With Weir Group intending to sell its Flow Control Division, the results of that division will now be reported as discontinued operations. Jon Owens, formerly president and chief operating officer of ESCO Corp, will lead Weir’s ESCO division as president. Owens has joined Weir’s group executive and become a Person Discharging Managerial Responsibilities (PDMR). Cal Collins, the former chairman and CEO of ESCO Corp, has joined the Weir Group plc board as a non-executive director and PDMR.
For further information, visit www.global.weir and www.escocorp.com
PumpMan makes two acquisitions
I
n the US, PumpMan Holdings LLC has completed the acquisition
July 2018
of Healdsburg, California-based Groundwater Pump & Well and Phoenix, Arizona-based Southwest Waterworks Contractors Inc. Groundwater Pump & Well has provided clean water solutions for the residential, commercial, agriculture, water treatment, and well-rehabilitation industries since 1990. Later this year, PumpMan will integrate Groundwater into its Santa Rosabased Bartley Pump, relocating employees, equipment and inventory. “Coupling Groundwater’s employees and technical competencies with the experience and institutional knowledge of Bartley Pump positions the company for growth and success in Northern California,” said Donald Devine, president and CEO of PumpMan. “This bolt-on acquisition is key to developing scale in the region, and growing the company into a strong nationwide player in the industry.” Ron Foster Sr, president of Groundwater Pump & Well, and his son Ron Foster Jr will remain with the company post acquisition. As part of PumpMan, the Bartley and Groundwater brands will remain active and add “A PumpMan NorCal Company” at year-end. Southwest Waterworks Contractors, which specialises in the design, installation and repair of pumps and pump systems, serves the municipal and private utility markets in the greater Phoenix metropolitan area. “Phoenix is one of the fastest growing metropolitan areas in the US, adding more than a million residents since 2000,” said Devine. “With this rapid growth, there’s a tremendous need for increased capabilities and scale within the water and wastewater industry. We look forward to building on the knowledge and expertise of Southwest Waterworks and providing the tools and support necessary to enable the company to meet the region’s increased water demands.” John Baily and Mike Richardson, the former owners of Southwest Waterworks Contractors, will continue to lead the company and support near-term growth initiatives. As part of the PumpMan network, the company will transition to “A PumpMan Phoenix Company” later this year. “Both PumpMan and Southwest Waterworks share the same values and commitment to our customers and technicians. Therefore, it was a natural fit for Southwest to become a part of this rapidly growing network and provide long-term stability for our employees,” said Bailey and Richardson. “PumpMan will be able to build
In Brief • Eighty three people attended Ebara Corp’s pump technology seminar at the Institute of Technology of Cambodia (ITC) in Phnom Penh, Cambodia in June 2018. The Ebara lectures focused on pump basics and planning pumping stations used for water supply facilities. The Japanese pump company has held more than 20 seminars in Cambodia. Agriculture is the main industry in Cambodia and many pumps are used for irrigation. In addition, demand for water supply and sewerage pumps in Cambodia is increasing with urbanization. www.ebara.co.jp • Sulzer is celebrating 70 years since it started operations in Brazil and its first manufacturing site in São Bernardo do Campo, São Paulo. Since the first machine was imported from Switzerland in 1948, Sulzer has continued to grow its businesses in Brazil. Starting with small and medium-sized pumps for general industrial use through pumps for oil and gas industries, large pumps for water transportation, compressors and specialised services in turbines and other critical rotating equipment, Sulzer has continued to expand its portfolio. Over the years, Sulzer in Brazil has designed, manufactured, delivered and serviced equipment all around the world. Flavio Romero, director of Services for South America, said: “Today, Sulzer’s operations in Brazil continue to grow and our pumps continue to help in the development of the country.” www.sulzer.com • Evoqua Water Technologies Corp has completed its acquisition of ProAct Services Corp from private equity firm Hammond, Kennedy, Whitney & Company Inc (see Pump Industry Analyst, June 2018). With annual revenues of US$54 million, ProAct Services provides on-site treatment services of contaminated water in all 50 US states. ProAct Services will now operate as a separate division within Evoqua’s Industrial Segment and will continue to be based in Ludington, Michigan with facilities in California, Florida, Michigan, Minnesota, New Jersey, Virginia and Texas. www.evoqua.com and www.proact-usa.com
Pump Industry Analyst
3
DIVIDENDS/NEWS
Dividends • Spain’s Fluidra SA will not distribute dividends this year, although it anticipates resuming payments to shareholders in 2019 after deleveraging the debt arising from the merger with the US company Zodiac (see Pump Industry Analyst, November 2017). www.fluidra.com and www.zodiac.com • The Weir Group plc board of directors has approved an interim dividend of 15.75p, up from 15.0p in 2017. This year’s interim dividend will be paid on 2 November 2018 to shareholders on the register on 12 October 2018. www.global.weir • Lindsay Corp’s board has announced a regular quarterly cash dividend of US$0.31 per share, payable on 31 August 2018, to shareholders of record on 17 August 2018. This quarterly cash dividend rate represents a 3.3% increase in the previous quarterly indicated rate of US$0.30 per share. The new annual indicated rate is US$1.24 per share, up from last year’s US$1.20 per share. At 19 March 2018, Lindsay had approximately 10.8 million shares outstanding. Lindsay’s shares are traded on the New York Stock Exchange under the symbol LNN. www.lindsay.com • The Gorman-Rupp Co board has declared a quarterly cash dividend of US$0.125 per share on the company’s common stock, which is payable on 10 September 2018, to shareholders of record on 15 August 2018. This will mark the 274th consecutive quarterly dividend paid by Gorman-Rupp. www.gorman-rupp.com • Franklin Electric Co Inc’s next quarterly cash dividend of US$0.12 per share will be payable on 16 August 2018 to shareowners of record on 2 August 2018. www.franklin-electric.com
on the success of our hard work, and we look forward to watching it grow.” PumpMan Holdings, a Soundcore Capital Partners LLC portfolio company, was formed in 2016 following the acquisition of Baldwin Park, California-based PumpMan Inc (see Pump Industry Analyst, September 2016). PumpMan currently provides onsite service, repair, parts and expertise to the commercial, municipal and industrial markets in Southern California (PumpMan SoCal), Northern California (Bartley Pump), the Greater Philadelphia area (PumpMan Philly), the Pittsburgh market (PumpMan Pittsburgh), and the New York Metro Area (Federal Pump). For further information, visit www.pumpman.com, www.groundwaterpumpandwell.com, www.southwestwaterworkscontractors.com and www.soundcorecap.com
Netzsch opens new pump service centre in Texas
N
etzsch Pumps North America LLC has set up a new service centre just north of Houston, Texas, USA providing field service, rental equipment and other pump services. The 4900 sq ft warehouse and office space allows Netzsch to deliver local service to pump customers throughout Texas. The new Netzsch Sales & Service Center will be a base for local technical support, inventory and its AWS certified field service technician. The Netzsch Service Center features an onsite pump stand, enabling customers to witness hydraulic tests on repaired or new pumps before they are installed on their plant site. The Netzsch Service Center will also have rental stock for customers looking to test the T2 rotary lobe pump within their new or existing systems. The facility also has a 1-ton crane, forklift and fully outfitted service truck for field service needs. For further information, visit www.pumps.netzsch.com
4
Pump Industry Analyst
Grundfos to host global customer forum online
P
ump manufacturer Grundfos is opening its global customer forum to the world through a virtual conference. In a first for the event, the Grundfos Forum 2018 will be broadcasting from Suzhou, China via a virtual conference. This will give professionals from all over the world the opportunity to hear from engineers, government leaders, consultants, academics and other key decision-makers about ways to move and manage the world’s water, under this year’s theme of ‘Intelligent Connectivity’. The virtual conference will be broadcast live on 15 and 16 August 2018, and OnDemand from 17 August to 14 October 2018. As well as accessing talks, events and breakout sessions, participants will also get to take part in the forum’s interactive spaces, interact with forum participants, and chat with experts while exploring the exhibition area. “We have received tremendous feedback from business leaders and our customers about the insight and learnings that they have gained from attending our forum over the years,” said Kim Jensen, regional managing director of Grundfos Asia Pacific region. “This year, we are hosting the conference online so that we can reach more industry professionals who are not able to make it to the event in person.” “Just as how technology has changed our relationship with water, it has transformed the way we get to engage with one another. With the virtual conference, people will not only get to tap into a wealth of knowledge, but also actively participate in the discussions with our experts and other participants.” To encourage greater engagement, online participants will also be automatically enrolled into the leaderboard challenge, where points are gained through participation. The top five participants will win a trip to Grundfos’s headquarters in Bjerringbro, Denmark. Register for the Virtual Conference at https://grundfos.6connex.com/event/Forum2018/login
July 2018