Acquisitions, expansions and partnerships
ConocoPhillips agrees to sell Barnett assets
ConocoPhillips entered into a definitive agreement to sell its interests in Barnett to an affiliate of Miller Thomson & Partners LLC for $305 million plus net customary adjustments. Proceeds from this transaction will be used for general corporate purposes. The transaction had a net book value of assets of approximately $0.9 billion as of May 31, and is expected to close the third quarter of 2017, subject to specific conditions precedent being satisfied including regulatory approval.
Weir Oil & Gas acquires KOP Surface Products
Weir Oil & Gas completed its acquisition of KOP Surface Products. The action, announced mid-June, reflects Weir’s commitment to global expansion with a significant focus on Asia Pacific. The acquisition has an enterprise value of $114 million. KOP is headquartered in Singapore and has a manufacturing facility in Batam, Indonesia, as well as a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia and India.
Equilibar partners with TSFG
Equilibar partnered with Thermal and Fluids Solutions Group (TFSG). TFSG specializes in advanced two-phase flow and heat transfer systems, including refrigeration, Rankine cycles and open power cycles, as well as ocean thermal energy conversion. The partnership is expected to accelerate new applications in the thermal and refrigeration sectors.
Motion Industries to acquire Numatic Engineering
Motion Industries Inc., a wholly owned subsidiary of Genuine Parts Company, entered into a definitive agreement to acquire Numatic Engineering. Numatic Engineering has more than 60 years of experience selling and supporting automation components. Motion Industries is an industrial parts distributor of bearings, mechanical power transmission, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic components, industrial products, safety products and material handling, with annual sales of $4.6 billion.
Yokogawa adds advanced chemical injection technology
Yokogawa Electric Corporation acquired TechInvent2 AS, a Norwegian enterprise that holds the rights to FluidCom, a chemical injection metering valve. FluidCom prevents blockages and corrosion in oil wells, pipelines and other facilities and employs a patented technology for thermal control that incorporates the functions of a mass flow meter, control valve and valve controller.
Exova becomes part of Element Materials Technology Group
Testing and product qualification business Element Materials Technology Group acquired Exova, establishing an international private equity firm that will operate as Element Materials Technology. The new Element Group is majority owned by Bridgepoint, an international private equity firm, and will consist of 200 laboratories in more than 30 countries. Exova will continue to operate under its new ownership name. Ian El-Mokadem, the former CEO of Exova, moved from the business to pursue other opportunities while Element’s CEO Charles Noall takes responsibility for the combined company, alongside a new executive team made up of senior management from both companies.
Dunleary to acquire D & F Distributing and D. N. Lukens
Specialty chemical distribution company Dunleary Inc. will acquire D. N. Lukens Inc. and D & F Distributing Inc. The closing date for the acquisitions is set for the end of August and is subject to customary due diligence. Combined the companies cover many industries, including coatings, adhesives, sealants and elastomers; plastics; construction; food; personal care; cosmetics; graphic arts; oil and gas; rubber and textiles. The combined companies will fall under one entity with a new brand identity by the end of the year.
BCCK enters contract with Blue Mountain Midstream
BCCK Holding Company entered an engineering, procurement and construction contract with Blue Mountain Midstream LLC for delivery of the Chisholm Trail Cryogenic Gas Plant in Oklahoma. Previously LINN Midstream LLC, Mountain Midstream is a subsidiary of LINN Energy Inc. All three of the BCCK Holding companies — BCCK Engineering, NG Resources and NGF Construction — will work with Blue Mountain Midstream to supply BCCK’s 225 MMSCFD RSV Cyro Plant. Construction of the plant is planned for the second quarter of 2018.
NETZSCH Pumps North America appoints VP of OEM
NETZSCH Pumps North America LLC expanded its executive sales force with the hiring Robert LePera as vice president of OEM Sales. In this role, he will provide individual attention with a team that includes sales, service and engineering for the OEM customer. LePera spent most of his professional career in the pump industry. He has served in various roles during a 30-plus year career including national sales manager, marketing manager, vice president of global sales, and commercial director of the Americas leading domestic and international teams.
EASA names new officers and executive committee
International trade organization Electrical Apparatus Service Association (EASA) named new international officers for the 2017–2018 administrative year. The new officers are:
- Chairman of the board: Lenwood Ireland of Ireland Electric in Virginia Beach, Virginia
- Vice chairman: Gary Byars of Heavy Machines Inc. in Memphis, Tennessee
- Secretary/treasurer: Brian Larry of Larry Electric Motor Services Ltd. in Peterborough, Ontario, Canada
Ireland has more than 40 years of experience in the electrical apparatus industry. He previously held every elected office in EASA’s Southeastern Chapter, and served as director of EASA Region 2.
The new officers will serve on the executive committee with immediate past chairman Jim Smith of Advanced Electric Equipment; Tim Bieber of D-Electric Inc; and Jerry Gray of Sloan Electromechanical Service & Sales.
Viega names new national account manager
Viega LLC named Jordan Mays as its newest national account manager. He will be based in Frisco, Texas. In this role, Mays is responsible for overseeing sales and relationship management for a select number of Viega’s national accounts. Prior to joining Viega, Mays worked as an account manager at Advanced Drainage Systems. He also worked as a retail operations manager at CROSSMARK and as a sales executive at Kohler Company.
UNIPOWER names new VP of operations
UNIPOWER LLC named Philip Haynes vice president of operations to oversee UNIPOWER’s global operations footprint that includes manufacturing and engineering centers in North America, Europe and Asia. In this role, Haynes is expected to develop and implement production, purchasing, materials and quality strategies. Haynes joined UNIPOWER with more than 20 years of operations and executive management experience in high mix/mid-volume electronics manufacturing. He has worldwide experience in operations improvement, in-depth knowledge of off-shore sourcing and supply chains, and customer-facing engagement in private equity environments.
Awards, milestones and achievements
ASTM International committee announces Robert J. Painter Award winner
Shane Collins, director of additive manufacturing programs with CalRAM Inc., received the Robert J. Painter Award from the ASTM International committee on additive manufacturing technologies (F42). Collins was recognized for his exceptional service in advancing the cause of voluntary standardization for additive manufacturing technologies and for leadership in developing timely and relevant standards to serve an evolving industry. Collins has been an ASTM International member since 2009, and serves as a guest editor of the Additive Manufacturing Journal.