Mergers, acquisitions, expansions and partnerships
Colfax sells fluid handling business for $860M
Annapolis Junction-based Colfax Corp., an industrial manufacturing and engineering firm, has taken a step towards refining its profile by selling its fluid handling business to Circor International Inc., a Massachusetts valve manufacturer, in a deal totaling $860 million. Colfax’s fluid handling business has a history dating back to 1860. The fluid handling business had about $463 millions of sales in the 12 months ending June 30. The company expects the deal to close in the fourth quarter of the year. The Circor shares to be issued to Colfax will represent approximately 16 percent of all issued and outstanding shares. Colfax’s deal with Circor included $542 million and 3.3 million shares of Circor common stock. Circor will also assume $150 million in net pension liability. Colfax plans to profitably grow its ESAB and Howden business units through acquisitions. The company also plans to make more deals to expand its portfolio and build out new business platforms.
HI develops its first certification program for PSAP
The Hydraulic Institute (HI) has launched a program to support the industry-wide need for increased reliability and energy efficiency in pumping systems. Pumping systems account for more than 40 percent of industrial energy usage. HI’s pumping system assessment program (PSAP) sets the standard for the knowledge, skills and abilities necessary for performing pump system assessments and utilizing pump system optimization techniques. The certification program was derived as a response to the need for more energy efficient systems and as a way to provide pump end users to assess those systems with highly qualified, certified evaluators. Companies can gain a competitive edge by employing valuable individuals who are PSAP-certified with validated knowledge and experience by the Pump Industry Authority.
For applicants, qualifications for the certification program include:
- A minimum of three years of pump/pumping system experience
- An undergraduate degree from an accredited university or college in a technical/business field
- May also possess five or more years of direct industrial or commercial fluid transfer/pumping systems experience
To learn more about the PSAP certification program or to apply, visit www.pumps.org/psap
Siemens Gamesa to develop India’s first hybrid wind-solar project
Siemens Gamesa, a global provider of wind power products and solutions, will develop India’s first large commercial hybrid wind-solar project, where a 28.8-MW solar facility will be connected to an existing 50-MW wind farm. Siemens Gamesa will provide an end-to-end turnkey solution. Specifically, it will handle the design, engineering and commissioning of the new solar plant – including the supply of photovoltaic inverters made by Gamesa Electric – and its hybridization with an existing wind farm, equipped with the Siemens Gamesa turbines. The project, located in the in the state of Karnataka, is scheduled to be operating by the end of 2017.
Endress+Hauser inaugurates new campus in France
Endress+Hauser invested 4.9 million euros in a new building in Lyon, France. From a long-term investment standpoint, the building has a total of around 7, 000 square meters for office space, warehouse facilities, a training center and a presentation room for customer training, which offers sufficient room to grow the location further. The sales center and Kaiser Optical Systems European headquarters will be together under one roof. The new campus permits synergies for optimal customer management. The primary beneficiaries of the collaboration between Endress+Hauser and Kaiser Optical Systems are customers in the life sciences, chemical, water & wastewater, food & beverage and oil & gas industries.
Metso to move ahead with new operating model and organization
Metso‘s board of directors has agreed to move forward with a new operating model and organization, effective Jan.1, 2018, according to a group announcement. The new organization is designed to accelerate Metso’s strategy implementation by strengthening its service and product businesses in the minerals and flow control markets. Growth will primarily be sought organically, but also through acquisitions, the company said. Metso’s new business areas will be mining equipment, aggregates equipment, minerals services, minerals consumables, recycling, valves and pumps. The group’s current reporting segments, Minerals and Flow Control, remain unchanged.
Seeq integrates with Tableau for process manufacturing
Seeq is a software application dedicated to process data analytics and Tableau software helps people see and understand data. The two software companies have joined to better serve process manufacturing organizations, concerning analyzing and sharing data information. Tableau customers can now easily leverage Seeq for connectivity to data historians, cleansing, contextualization and modeling to enable insights on process data. With the integration, Seeq customers can leverage Tableau’s advanced visualization tools for their time series data, and Tableau users can leverage Seeq for data wrangling and modeling prior to visualization in Tableau. Seeq and the Tableau platform, working together, enable customers to access a monitoring and data management platform in Tableau, as well as rapid, interactive analytics on collected data provided by Seeq. Customers can achieve insights to improve production results and make processes more efficient.
IK Investment Partners to sell Schenck Process to Blackstone
IK Investment Partners (IK), a Pan-European private equity firm, has reached an agreement with private equity funds managed by Blackstone (“Blackstone”) to sell Schenck Process (Schenck), a measuring and process technology company. Headquartered in Darmstadt, Germany, Schenck develops and manufactures innovative solutions for a wide range of industrial processes including weighing, feeding, conveying and filtration. Schenck serves a customer base across a variety of industries, including food, chemicals, mining and construction.
Siemens & PAS partner to provide ICS cybersecurity
Siemens made an agreement to provide fleet-wide, real time monitoring for control systems. By leveraging the unique capabilities of both companies, this partnership will provide customers with analytics and visibility. Customers will be able to identify and inventory proprietary assets and be able to detect and respond effectively to attacks across the operating environment.
Digital is taking over in revenue and efficiency gains, which creates a need to identify new threats at onset for industries such as the oil and gas sectors. Cybersecurity measures have struggled to keep up with the growth of digitization in oil and gas operations, according to recent research conducted by Ponemon Institute. Focused on gathering detailed configuration data down to the sensor, the Siemens-PAS partnership will enable customers to secure proprietary systems in multi-vendor environments – guarding against cyber attacks as well as unauthorized engineering changes.
UPC acquires atmosphere engineering
United Process Controls (UPC) acquired Atmosphere Engineering Company (Atmosphere Engineering), a USA-based, family-owned and operated business led by brothers Jason and Eric Jossart. Founded in 2002, Atmosphere Engineering designs and manufactures industrial flow control products, furnace control products and data acquisition software with a strong presence in North America, South America and Europe. Atmosphere Engineering will bolster UPC’s product offering and technical competencies. While the acquisition expands the company’s customer base, it will also provide a platform to expand into new markets, extend market penetration in the flow controls market and capitalize on cross-sell opportunities.
European affiliate of Sun Capital Partners acquires C&K Holdings
An affiliate of Sun Capital Partners Inc. (Sun Capital) and Sun European Partners, LLP (Sun European Partners) has acquired C&K Holdings, Inc. (“C&K” or the “Company”), a brand of electromechanical switches. C&K was founded in 1928 and is headquartered in Newton, Massachusetts. The company delivers reliable, cost-effective and high-quality electromechanical switches to more than 20,000 customers in the industrial, automotive, aerospace, medical, consumer products, transportation and telecom industries. Executive members of C&K view the partnership with Sun European Partners as an important milestone. Sun Capital and Sun European Partners have significant experience in the engineered industrial products space through affiliated portfolio companies.
Endress+Hauser acquires manufacturer of moisture measurement technology
The Endress+Hauser Group enhanced its quality measurement portfolio through the acquisition of IMKO Micromodultechnik GmbH, a manufacturer of innovative moisture measurement systems. IMKO’s headquarters will remain in Ettlingen, Germany. IMKO Micromodultechnik strengthens quality parameter portfolio. The Endress+Hauser Group is further enhancing its quality measurement portfolio through the acquisition of IMKO Micromodultechnik GmbH, a manufacturer of innovative moisture measurement systems. IMKO’s headquarters will remain in Ettlingen, Germany.
Phillips 66 Partners agrees to $2.4B acquisition
Phillips 66 Partners LP reached an agreement with Phillips 66 to acquire 25 percent interest in each of Dakota Access LLC and Energy Transfer Crude Oil Company LLC (collectively, the “Bakken Pipeline”) and 100 percent interest in Merey Sweeny L.P. (MSLP), the owner of fuel-grade coke processing units at the Phillips 66 Sweeny Refinery. The acquisition is expected to close in early October 2017. The total transaction value of $2.4 billion includes $625 million in proportional non-consolidated, non-recourse Bakken Pipeline debt and $100 million of MSLP debt. The value reflects an approximate 8.9 times multiple, based on the acquired assets’ forecasted full year 2018 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $270 million.
Quorum becomes first provider to offer complete suite of cloud-based digital oilfield solution
Quorum, software for the oil and gas industry, acquired WellEz, SaaS cloud-based well lifecycle analytics for the upstream oil and gas industry. From land management to accounting, field operations, energy marketing, and now the addition of well lifecycle analytics, Quorum is the only software provider to offer a complete suite of cloud-based digital oilfield solutions.
The acquisition of WellEz will expand Quorum’s product portfolio with complete well lifecycle reporting. This includes out-of-the-box automated reports for drilling, completions, workover, facilities, construction, and production for all stakeholders – including engineers, partners, and executives. Quorum and WellEz share complementary technology strategies. The addition of WellEz reinforces Quorum’s commitment to cloud-based, mobile-first technology that integrates into the unique business processes of energy companies.
Metso & Eco Consult’s new distribution agreement improves business presence
Metso expanded the coverage of its flow control solutions with a distribution agreement with the Croatia-based company Eco Consult d.o.o. The signed agreement orders have already been placed for refinery and geothermal projects. The first order for control valves, received in Q1, for a refinery expansion project in Russia allowed Eco Consult to offer Metso’s comprehensive variety of valves, resulting in a one-stop-shop solution that saved time and resources for the customer. The order included Neles globe and segment valves, all with Metso’s actuator and ND positioner. Metso’s Neles standard and severe service globe valves are designed to operate at extreme pressures and temperatures.
Developing the distribution channel globally is one of the most important strategic growth initiatives of Metso’s Flow Control business. By partnering with the top distributors, Metso improves its presence in the traditional core areas, as well as in new markets, to serve its customers better. Eco Consult d.o.o. is an international company, based in Croatia with a goal of designing, implementing and operating sustainable, energy efficient solutions. Eco Consult has a strong presence in the power, oil and gas industries, and serves other process industries, energy projects and steel production. Metso is an industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries.
Endress+Hauser appoints new COO
Endress+Hauser appointed a new chief operating officer (COO) effective Oct. 1. Kailash Desai has been selected for the position by the group executive board and will take charge of the business in India. Desai has been with the company since 2003, having served various management roles focusing on marketing and sales —most recently senior vice president — while also gaining experience in human resources and the projects business. Desai completed his studies with a Bachelor of Engineering (Instrumentation) and received a post graduate degree in Marketing Management.
WAGO North America appoints new president
WAGO named Toby Thomann president of North American headquarters in Germantown, Wisconsin. Thomann has been with WAGO for 23 years and has worked as regional sales manager, zone manager, marketing manager and most recently vice president of sales. In his new role as president, Thomann will help the company empower its customers, exceed expectations in the evolving industries markets and achieve goals.
Materials Research Society appoints vice president/president elect & new board members for 2018
The Materials Research Society (MRS) appointed a vice president and new board members for 2018, elected by the society’s global membership of almost 14,000. Michael Fitzsimmons, Oak Ridge National Laboratory and The University of Tennessee, will serve as MRS vice president beginning Jan. 1, 2018. He will lead the Board of Directors as MRS president in 2019, and finish his three-year term as immediate past president in 2020.
The election also brings five new members to the MRS Board of Directors, who will each serve three-year terms beginning Jan. 1, 2018. The MRS Board of Directors is the governing body of the Materials Research Society and is responsible for setting the strategic direction of major Society initiatives. The board members are:
- Griselda Bonilla, IBM Research
- Paul C. McIntyre, Stanford University
- Christopher A. Schuh, Massachusetts Institute of Technology (MIT)
- Rachel Segalman, University of California, Santa Barbara
- Ehrenfried Zschech, Fraunhofer Institute for Ceramic Technologies and Systems
Badger Meter appoints chief operating officer
Badger Meter Inc. appointed Kenneth C. Bockhorst to the newly created position of senior vice president and chief operating officer (COO). Bockhorst brings more than 20 years of experience in global operations management to Badger Meter and he will assume his role Nov. 1, 2017. Bockhorst will oversee the company’s municipal water and flow instrumentation manufacturing, engineering, sales and marketing and acquisition activities as COO. He will also assume responsibility for the company’s continuous improvement initiatives and new product development. Bockhorst holds a bachelor’s degree in operations management, marketing and human resources from Marian University and an Executive MBA from the University of Wisconsin-Madison.
BioSafe Systems adds to food safety & QA/QC teams
BioSafe hired Destinee Anderson as quality assurance (QA) and quality control (QC) manager and Justin Nguyen as food safety sales representative. Both will be covering all BioSafe segments with a strong focus on post-harvest/food safety and meat and poultry industries. Justin Nguyen will work closely with BioSafe Systems’ customers and team members to provide on-site assessment and improvement to food safety quality and process enhancement programs. Nguyen holds a bachelor’s degree in Chemical Engineering and Food Technology and earned his Master of Science degree from Sacred Heart University. Destinee Anderson will work from BioSafe’s Connecticut headquarters within the operations team as QA/QC manager. Destinee has been working in the food industry for the past 15 years and has strong experience within varied food safety settings including dairy, juice and USDA meat establishments. Anderson holds a Master of Food Science degree from Kansas State University.
SLM Solutions signs their largest single contract to date
SLM Solutions Group AG (SLM Solutions), a supplier of metal-based additive manufacturing technology, signed the company’s largest multi-machine contract for 50 machines of the SLM280 series. Since its initial public offering in 2014, SLM Solutions has pursued the objective of gaining a firm foothold in Asia. The company is already represented in the region through its subsidiaries in Singapore, China and India. SLM Solutions has taken steps to promote further growth in this region. This contract underscores the strong global demand for additive production facilities suitable for industrial applications. The machines will be sold up over the course of the years from 2017 to 2020. To the knowledge of SLM Solutions it is one of the largest orders ever placed in China in additive manufacturing.
Siemens Gamesa Renewable Energy appoints chief cybersecurity officer
Siemens Gamesa Renewable Energy appointed Alan Feeley as its new chief cyber security officer. Feeley will takes on his new role in addition to his current role as chief information officer. He will expand and manage the company’s operational framework for cyber security and will consolidate all security developments in the context of the digital transformation of SGRE after the merger of Gamesa and Siemens Wind Power. With the new position, Siemens Gamesa has implemented cyber security in its top management to be prepared for future challenges and to address any potential security issues both internally as well as for its customers.
Awards, milestones & achievements
Badger Meter employee receives chief marketing officer of the year
Badger Meter Inc. Chief Marketing Officer Kimberly Stoll was recognized by the Milwaukee Business Journal. Stoll joined Badger Meter in August 2008 during the recession and restructured the company’s sales channels, grew market share and improved customer service. With Stoll onboard, sales grew between 2009 and 2010 by 10.5 percent and return on investment for shareholders grew by an annual rate of 14 percent. She is a key component behind Badger’s strategy and has helped the company to increase efficiencies. Stoll has led more than $30 million of acquisitions, including distribution and new technology. Stoll holds a bachelor of business administration degree from the University of Wisconsin-Madison, and a law degree from Marquette University.
Calpipe Industries Inc. receives AD supplier of the year award
Calpipe Industries Inc. was named the 2017 Affiliated Distributors (AD) U.S. supplier of the year for performance over $10 million (“US Supplier of the Year, Performance – Over $10M”). The company is the first to have received the prestigious award in both the under and over $10 million category. The award ceremony took place on Sept. 26, during the AD North American meeting in Grapevine, Texas. Having achieved this honor reflected the company’s recent success, with a 50 percent growth during the rolling 12-month period. The company previously received the “US Supplier of the Year, Performance – Under $10M” in 2014. Every year, AD recognizes many companies in the electrical industry and the ‘Supplier of the Year’ category is their top award. Calpipe Industries Inc., headquartered in Rancho Dominguez, California, is an industry provider of conduit products for corrosive environments under the divisions of Calconduit, Calbrite, Calbond and security products under Calpipe Security Bollards for both aesthetics and safety.
Emerson announces 2017 ASCO Engineering Scholarship recipients
Emerson has announced the recipients of the ASCO 2017 Engineering Scholarship: Alexandra Lomasney of Peabody, Massachusettes, and Richard Hollenbach III of Hatfield, Pennsylvania, have each been awarded a $5,000 scholarship to support their pursuit of a bachelor’s degree in engineering. Emerson will further support the recipients’ studies with an additional $1,000 grant to the engineering departments at each of their respective universities. The company awarded the ASCO 2017 scholarship recipients on Sept. 27, at PMMI’s annual Amazing Packaging Race at PACK EXPO 2017 in Las Vegas, where the two student recipients were guests. The ASCO 2017 Engineering Scholarship program, now in its tenth year, has awarded a total of $100,000 in merit-based scholarships to 20 students, based on their potential for leadership and for making a significant contribution to the industrial automation engineering profession, particularly as it relates to the application of fluid control and fluid power technologies.
SPE recognizes ATCE 2017 award winners
The Society of Petroleum Engineers’ (SPE) annual reception and banquet will recognize those who have made significant technical and professional contributions to the industry, and those who have contributed exceptional service and leadership to the society. The banquet will take place during the SPE Annual Technical Conference and Exhibition (ATCE) on Tuesday, 10 October from 1830 – 2200 (6:30 – 10 p.m.) hours at the Henry B. Gonzalez Convention Center in San Antonio, Texas, USA. The Society of Petroleum Engineers (SPE) is a not-for-profit professional association whose members are engaged in energy resources development and production. The event will also acknowledge the 2017 SPE award recipients. For more information on ATCE 2017, visit spe.org/atce.
Distinguished members to be recognized are the following:
- Sidqi Abu-khamsin
- Nabeel Al-afaleg
- Matthew Balhoff
- Jose Bashbush
- John de Wardt
- Effiom Edet
- Steve Flew
- Barrett Hanson
- Mehdi Matt Honarpour
- Hui-hai Liu
- Rustom Mody
- Nobuo Morita
- Quoc Nguyen
- Okurerie Ogedegbe
- Sara Ortwein
- Donald Paul
- Teri Reed
- Sidhartha Sur
- Ruud Weijermars
- Murtaza Ziauddin
Honorary memberships are the following:
- Akhil Datta-Gupta
- Anil Kumar
- Robert Moore
- Alexander Neyin
- Dean Oliver
- Sidney S. Smith, Sr.
- Dongxiao Zhang