M&A activity

The volume of global M&A in the fluid power and flow products sector remains extremely vibrant with a consistently strong dealflow, as evidenced by transactions over the past 12 months.

The industry remains a safe haven for both strategic acquirers and PE investors alike, and many large global groups with strong balance sheets are using their available cash to reinforce their product portfolios, service offerings and geographic reach through acquisitions.

Although there was only one ‘mega’ deal over the past year – Emerson’s acquisition of Pentair Valves & Controls for €2.8bn – our table shows that there were a significant number of upper end mid-market deals as players sought to access new technologies and markets. Indeed many of these transactions were cross-border in nature, a defining trend of the mid-market space in this sector as companies look to access new geographies.

We also saw a number of PE-backed transactions. One deal saw LDC acquire ChargePoint Technology, a manufacturer of specialist high containment and sterile transfer valves. Clearwater International advised ChargePoint Technology on the deal.

Clearwater International advises ChargePoint Technology on investment from LDC

Clearwater International has advised the owners of ChargePoint Technology Holdings Limited (ChargePoint), the high growth designer, manufacturer, and innovator of specialist high containment and sterile transfer valves on securing a multi-million-euro investment from private equity firm LDC to drive further international expansion.

The investment by LDC, supporting Managing Director Chris Eccles and Sales Director Tony O’Sullivan in the buyout, will see LDC become a minority shareholder.

The business, which is headquartered in Speke, Liverpool, manufactures and supplies high-performance containment and sterile transfer valves to the largest global pharmaceutical, bio-pharmaceutical and chemicals companies.

Read more about this transaction.

Fluid Power and Flow Products Clearthought – M&A activity Image

Recent deals:

Date Target name Country Description Acquirer name Country Enterprise value (€m)
Jul-17 Summit ESP Inc US Manufacturer of electric submersible and surface pumping systems Halliburton Co US n.a.
Jun-17 Hayward Tyler Group plc UK Manufacturer of fluid-filled electric motors and pumps for the energy sector Avingtrans plc UK 57.4
Jun-17 Nor-Cal Products Inc US Manufacturer of vacuum components and valves for the semiconductors sector Pfeiffer Vacuum Technology AG Germany 61.0
Jun-17 La-Gajjar Machineries Pvt Ltd India Manufacturer of submersible and mono block pumps Kirloskar Oil Engines Ltd India n.a.
Jun-17 KOP Surface Products Pte Ltd Singapore Manufacturer of actuators, surface trees, surface wellheads and valves for the oil and gas industry The Weir Group plc UK 101.7
May-17 Westlock Controls Ltd UK Manufacturer of position transmitters and switchboxes for process valve control, monitoring and networking Crane Co US 36.7
Apr-17 Cryogenic Industries Inc US Manufacturer of cryogenic equipment including centrifugal and reciprocating pumps for the industrial gas, LNG and energy markets Nikkiso Co Japan 354.0
Apr-17 Gestra AG Germany Manufacturer of valves and control systems for fluid and steam process control Spirax-Sarco Engineering plc UK 186.0
Mar-17 Duplomatic Group SpA Italy Manufacturer of hydraulic components and systems Alcedo SGR Italy 69.0
Feb-17 INOXPA SA Spain Manufacturer of process equipment and flow handling systems for the cosmetics, food and pharmaceutical industries Interpump Group SpA Italy 76.0
Jan-17 Singer Valve Inc Canada Manufacturer of automatic control valves for the water industry Mueller Water Products Inc US 24.2
Jan-17 ChargePoint Technology Ltd UK Manufacturer of specialist high containment and sterile transfer valves LDC UK n.a.
Dec-16 Ensival Moret SA France Manufacturer of pumps for the chemicals, fertilizers, mining and sugar industries Sulzer AG Switzerland 80.0
Nov-16 Aflex Hose Ltd UK Manufacturer of flexible hoses for the chemicals, food and pharmaceutical industries Spirax-Sarco Engineering plc UK 72.1
Nov-16 TriStone Flowtech GmbH Germany Manufacturer of flow technology systems for battery coolling and engine applications Anhui Zhongding Holding Group Co Ltd China 170.0
Nov-16 Brevini Fluid Power Srl (80% stake) Italy Manufacturer of hydraulic components for the automotive industry Dana Inc US 325.0
Sep-16 Young & Franklin Inc US Manufacturer of actuators and valves for industrial gas turbines TransDigm Group Inc US 232.0
Aug-16 Pentair Valves & Controls Inc Switzerland Manufacturer of actuators and valves Emerson Co US 2,800.0
Jul-16 SFC KOENIG AG Switzerland Manufacturer of flow control and sealing solutions IDEX Corp US 217.0
Jul-16 Mega Pacific Pty Ltd (65% stake) Australia Distributor of hydraulic products for the transportation industry Interpump Group SpA Italy 12.6
Jun-16 Vexve Oy Finland Manufacturer of ball and butterfly valves for district heating applications DevCo Partners Finland n.a.
May-16 Argo-Hytos Group SA (49% stake) Switzerland Manufacturer of fluid power and hydraulic equipment CAPCELLENCE Mittelstandspartner GmbH Germany n.a.
Apr-16 Mastergear Inc US Manufacturer of valve actuators for the chemicals, oil and gas and water industries Rotork plc UK 21.9
Apr-16 WITA Wilhelm Taake GmbH Germany Manufacturer of pumps for heating systems Shimge Pump Industry Group Co Ltd China 13.5
Mar-16 PetrolValves SpA (40% stake) Italy Manufacturer of valves for the oil and gas industry Thyssen Bornemisza Group NV Netherlands n.a.