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WC Weil celebrates four decades of growth
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AxFlow acquires Italy’s Cinti
Energy Recovery unveils share repurchase plan
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xFlow Italy has bought Cinti Srl, a specialist in installation, service and repair of centrifugal pumps, based in northern Italy. With 21 employees, Cinti serves customers mainly in the municipal water, irrigation, agriculture, water treatment and fire protection markets. The acquisition includes all the tools and facilities needed to make a complete service offering. Cinti holds 50% of Elettromeccanica Alto Adige, with a secondary location in Bolzano, strategically placed to serve customers in the Alpine region. Cinti is an authorized service centre for water pumps for civil and industrial applications, including many wellknown brands. The company also holds certifications and authorizations for public works in Italy. “By bringing Cinti to AxFlow Group we will strengthen our service offering in Italy and in Europe. It is in line with our long term aim to have the best customer service on the market,” said Ole Weiner, CEO of AxFlow Group. Cinti managing director Marco Cinti sees big benefits of being part of a larger group. “We are looking forward to increased visibility and sales activity generated by AxFlow Italy’s sales staff,” said Marco Cinti. “Cinti will have a wider portfolio now, including PD pumps and agitators, and we will be able to expand our service offer to other industries.” The AxFlow Group has made a number of pump-related acquisitions already this year including Germany’s Pumpen Karrer, France’s RDC Productions, Estonia’s Bahr Pump OU, Latvia’s Pumptechnique SIA and Lithuania’s Flow Technologies UAB (see Pump Industry Analyst, January and February 2018). AxFlow Italy is part of the AxFlow Group, the Fluid Handling Solutions business group within Axel Johnson International. The AxFlow Group is active in 27 countries and has approximately 600 employees and an annual turnover of E180 million.
For further information, visit www.axflow.com and www.cintisrl.it
March 2018
nergy Recovery Inc’s board of directors has approved a share repurchase program that authorizes the company to purchase up to US$10 million of its outstanding common stock. “Our business performed exceedingly well in 2017, generating positive cash flow to add to our already strong balance sheet. We view implementing a share buyback as the most advantageous method at present to return cash to our shareholders and drive future returns,” said Energy Recovery’s interim president and CEO Chris Gannon. Under the newly authorized repurchase program, purchases of shares of Energy Recovery’s common stock may be made from time to time in the open market, or in privately negotiated transactions. Energy Recovery says that the timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. The share buyback program does not obligate the company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time. Payment for shares repurchased under the program will be funded using the company’s cash on hand.
For further information, visit www.energyrecovery.com
WC Weil celebrates four decades of growth
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018 sees WC Weil Company mark its 40th year as a manufacturers’ representative and service provider for municipal water and wastewater treatment equipment and systems, covering Western Pennsylvania, West Virginia, Eastern Ohio and the Maryland Panhandle. WC Weil was founded by William Weil in 1978. In 2002, salesman Greg Madia purchased the company. PumpMan Holdings acquired WC Weil in August
2017 providing the resources required to help accelerate growth across all segments, with a particular emphasis on expanding aftermarket service and repair to all commercial, industrial and municipal pump users in the company’s service area (see Pump Industry Analyst, September 2017). In an effort to rapidly expand its capabilities, the company plans to double the number of technicians over the next year and increase its focus to include the commercial and industrial segments. With five service centres across its network, and plans to expand, PumpMan is aiming to create a national pump service and repair company. “There comes a time when you just know something has to change. How do we transition from an entrepreneurial company to a professional organization? We made the proactive decision to achieve growth,” said Madia. “PumpMan Holdings provides the opportunity to build on the success of WC Weil, invest for growth, and offers increased opportunities for our employees,” continued Madia. “The next chapter of my career allows me to spend quality time with customers in the field – the aspect of my job that I’ve always enjoyed most.” PumpMan Holdings was formed in 2016 following the acquisition of Baldwin Park, California based PumpMan Inc. With roots dating back to 1976, PumpMan provides pump service and repair for the municipal, commercial, industrial and residential industries. PumpMan serves the Greater Philadelphia area through Alyan Pump Co, Northern California through Bartley Pump and New York City and parts of New York State through Federal Pump. For further information, visit www.wcweil.com, www.pumpmanholdings.com and www.pumpman.com
Singapore’s NRF forms membrane consortium to connect research with industry
T
he National Research Foundation Singapore (NRF) is setting up a
Pump Industry Analyst
3
AxFlow acquires Italy’s Cinti
Energy Recovery unveils share repurchase plan
A
E
xFlow Italy has bought Cinti Srl, a specialist in installation, service and repair of centrifugal pumps, based in northern Italy. With 21 employees, Cinti serves customers mainly in the municipal water, irrigation, agriculture, water treatment and fire protection markets. The acquisition includes all the tools and facilities needed to make a complete service offering. Cinti holds 50% of Elettromeccanica Alto Adige, with a secondary location in Bolzano, strategically placed to serve customers in the Alpine region. Cinti is an authorized service centre for water pumps for civil and industrial applications, including many wellknown brands. The company also holds certifications and authorizations for public works in Italy. “By bringing Cinti to AxFlow Group we will strengthen our service offering in Italy and in Europe. It is in line with our long term aim to have the best customer service on the market,” said Ole Weiner, CEO of AxFlow Group. Cinti managing director Marco Cinti sees big benefits of being part of a larger group. “We are looking forward to increased visibility and sales activity generated by AxFlow Italy’s sales staff,” said Marco Cinti. “Cinti will have a wider portfolio now, including PD pumps and agitators, and we will be able to expand our service offer to other industries.” The AxFlow Group has made a number of pump-related acquisitions already this year including Germany’s Pumpen Karrer, France’s RDC Productions, Estonia’s Bahr Pump OU, Latvia’s Pumptechnique SIA and Lithuania’s Flow Technologies UAB (see Pump Industry Analyst, January and February 2018). AxFlow Italy is part of the AxFlow Group, the Fluid Handling Solutions business group within Axel Johnson International. The AxFlow Group is active in 27 countries and has approximately 600 employees and an annual turnover of E180 million.
For further information, visit www.axflow.com and www.cintisrl.it
March 2018
nergy Recovery Inc’s board of directors has approved a share repurchase program that authorizes the company to purchase up to US$10 million of its outstanding common stock. “Our business performed exceedingly well in 2017, generating positive cash flow to add to our already strong balance sheet. We view implementing a share buyback as the most advantageous method at present to return cash to our shareholders and drive future returns,” said Energy Recovery’s interim president and CEO Chris Gannon. Under the newly authorized repurchase program, purchases of shares of Energy Recovery’s common stock may be made from time to time in the open market, or in privately negotiated transactions. Energy Recovery says that the timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. The share buyback program does not obligate the company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time. Payment for shares repurchased under the program will be funded using the company’s cash on hand.
For further information, visit www.energyrecovery.com
WC Weil celebrates four decades of growth
2
018 sees WC Weil Company mark its 40th year as a manufacturers’ representative and service provider for municipal water and wastewater treatment equipment and systems, covering Western Pennsylvania, West Virginia, Eastern Ohio and the Maryland Panhandle. WC Weil was founded by William Weil in 1978. In 2002, salesman Greg Madia purchased the company. PumpMan Holdings acquired WC Weil in August
2017 providing the resources required to help accelerate growth across all segments, with a particular emphasis on expanding aftermarket service and repair to all commercial, industrial and municipal pump users in the company’s service area (see Pump Industry Analyst, September 2017). In an effort to rapidly expand its capabilities, the company plans to double the number of technicians over the next year and increase its focus to include the commercial and industrial segments. With five service centres across its network, and plans to expand, PumpMan is aiming to create a national pump service and repair company. “There comes a time when you just know something has to change. How do we transition from an entrepreneurial company to a professional organization? We made the proactive decision to achieve growth,” said Madia. “PumpMan Holdings provides the opportunity to build on the success of WC Weil, invest for growth, and offers increased opportunities for our employees,” continued Madia. “The next chapter of my career allows me to spend quality time with customers in the field – the aspect of my job that I’ve always enjoyed most.” PumpMan Holdings was formed in 2016 following the acquisition of Baldwin Park, California based PumpMan Inc. With roots dating back to 1976, PumpMan provides pump service and repair for the municipal, commercial, industrial and residential industries. PumpMan serves the Greater Philadelphia area through Alyan Pump Co, Northern California through Bartley Pump and New York City and parts of New York State through Federal Pump. For further information, visit www.wcweil.com, www.pumpmanholdings.com and www.pumpman.com
Singapore’s NRF forms membrane consortium to connect research with industry
T
he National Research Foundation Singapore (NRF) is setting up a
Pump Industry Analyst
3