Industrial conglomerate Crane Company plans to acquire Trillium Flow Technologies’ U.S. pumps business in a deal worth about $240 million, company officials announced Monday.
The Trillium Pumps US segment includes the Floway, Wemco, Roto-Jet and WSP brands, which primarily serve the municipal water and wastewater markets. Crane President and CEO Alex Alcala said the deal would expand the company’s position in “highly engineered pump technologies,” as well as broaden its exposure to the resilient water and wastewater markets and provide an opportunity for “recurring aftermarket demand” from a large installed base.
Crane officials said that the pumps business expects to record full-year revenues of about $115 million.
"These brands are an excellent strategic fit that enhances the quality, durability and growth profile of our Process Flow Technologies segment," Alcala said in the announcement.
The transaction is expected to close in the fourth quarter of the year, subject to regulatory approval and other closing conditions.
Trillium officials said that the transaction represents another step toward “shaping its portfolio and positioning its businesses for long-term success.” The company provides pumps, valves, actuators and steam turbines, as well as smart monitoring technologies.
"TPU has built a robust business and market position through its deep customer relationships, a continued focus on operational excellence, and the commitment of its people," Trillium CEO Doug Kitani said in a statement. "We are proud of what the team has accomplished and believe Crane is well-positioned to support TPU in its next phase of growth."
