Sub-Sahara Mining & Industrial Journal
WATER & WASTEWATER

Grundfos to acquire US water technology company MECO

Grundfos has entered into an agreement to acquire Mechanical Equipment Company Inc (MECO), a US group that engineers and manufactures water purification solutions for a range of industries.

MECO operates in the industrial water treatment market with manufacturing and sales offices in the US and international offices in Singapore and Ireland.

“We see Grundfos and MECO as a perfect fit and we are thrilled with the prospect of acquiring MECO,” said Ulrik Gernow, group executive vice president and chief commercial officer at Grundfos. “This acquisition is about much more than superior technology. Grundfos and MECO are founded on similar values, and we share a deep commitment to innovation and sustainability as well as a genuine care for our customers and employees.”

“The prospect of joining the global Grundfos family is something that I am very excited about. Grundfos is the ideal new owner for our company,” said George Gsell, CEO at MECO. “I see an exceptionally solid match grounded in common values, our common customer-centric approach, and ambitions to make a significant difference in the field of water.”

The acquisition, which is pending regulatory approvals, will further expand Grundfos’s water treatment business. Last year Grundfos acquired Eurowater, a supplier of decentralised water treatment equipment and solutions in Europe.

The transaction is expected to close during autumn 2021.

Related posts

Roper Technologies Inc has agreed to sell a majority stake in its industrial businesses, including its entire Process Technologies segment and the industrial businesses within its Measurement & Analytical Solutions segment, to affiliates of private investment firm Clayton, Dubilier & Rice LLC (CD&R). Image © red150770 – stock.adobe.com. Roper will receive total upfront, pre-tax cash proceeds of approximately US$2.6 billion while retaining a 49% minority interest in a new standalone entity. The transaction includes the Cornell, FMI and Roper Pump businesses, as well as Alpha, AMOT, CCC, Dynisco, FTI, Hansen, Hardy, Logitech, Metrix, PAC, Struers, Technolog, Uson and Viatran. Together, these businesses generated approximately US$940 million of revenue and US$260 million of EBITDA in 2021. “This is the final step in Roper’s divestiture strategy to reduce the cyclicality and asset intensity of our enterprise,” said Neil Hunn, Roper Technologies’ president and CEO. “Selling a majority interest in these industrial businesses will provide Roper with significant upfront cash, while maintaining the ability to receive additional cash proceeds from the future exit of our minority interest.” “We are excited to partner with CD&R given their track record of successful corporate partnerships. Operating as a standalone entity will enable these businesses to build on their niche-leading strategies and continue creating value for their customers and shareholders,” added Hunn. John Stroup, operating advisor to CD&R Funds, will lead the standalone entity when the transaction closes.

admin

Kirloskar Brothers granted patent for CVP pumping assembly

admin

GRINDEX MEGA CLAIMS TITLE AS DEWATERING WORKHORSE

admin

Leave a Comment