Sulzer, a leading independent service provider for rotating equipment, today announced it has completed its definitive agreement to acquire both Grayson Armature businesses, Grayson Armature Large Motor Division, Inc. and Grayson Armature Orange Texas, Inc., for a deal valued at US$ 42 million. The closing of this acquisition, completed on 1 August, makes Sulzer one of the largest partners for electromechanical services in the Gulf Coast area.
Founded in 1980, Grayson Armature offers electro-mechanical repair services (at an in-house machine shop), re-manufacturing, re-design, upgrades, modifications and other additional services. The main facility is located in Pasadena, Texas, USA, and a second facility is located in Orange, Texas, USA.
The decision to purchase Grayson Armature builds on Sulzer’s commitment to provide cutting-edge maintenance and service solutions designed to improve customers’ processes and business performance. As a result of the integration, Sulzer will be able to further improve its combined offering to customers, especially of pumps and electromechanical services, and increase the company’s ability to service the whole train of rotating equipment generally used in the Oil & Gas, Power and Industrial market sectors.
Grayson Armature will operate under Sulzer’s Rotating Equipment Services division as Sulzer Grayson Inc., and will be led by Jim Mugford, Sulzer’s Pump and Electromechanical Services President for the US, who states, “We are pleased to welcome Grayson Armature to the Sulzer team. The addition of Grayson closes a large gap in our portfolio and greatly enhances our electromechanical service competences to better serve customers in the Gulf Coast Area."
Sulzer Grayson’s two existing facilities will integrate into the global network of service centres as the Pasadena Service Centre and Orange Service Centre. To further realise cost and sales synergies, Sulzer will relocate the pumps service centre, currently located in La Porte, to Pasadena.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/04082014/sulzer-completes-acquisition-of-grayson-armature/