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CECO Environmental and Thermon Group agreed a definitive deal to combine in a stock and cash transaction valued at about $2.2 billion, with the combined company continuing as CECO Environmental under CEO Todd Gleason.
Ceco Environmental completed the divestiture of its Fluid Handling (Global Pump Solutions) business to private equity firm May River Capital, which combined the Dean, Fybroc and Sethco pump brands into a new portfolio company, Tusk Industrial.
Chicago private equity firm May River Capital acquired the Global Pump Solutions business of CECO Environmental, including the Dean, Fybroc and Sethco pump brands. They will operate under a new portfolio company, Tusk Industrial, with sites in Telford, Pennsylvania and Indianapolis, Indiana.
CECO Environmental agreed to acquire GRC, a maker of rubber expansion joints and flow control products, through its Effox-Flextor-Mader joint venture. The deal is expected to close by April 2022.
CECO Environmental was awarded a $3.5 million project to supply over a dozen HEE-Duall scrubber and exhaust systems plus Fybroc recirculation pumps to a leading global semiconductor chip manufacturer for a new plant. The customer is unnamed.
CECO Environmental agreed to form a joint venture combining its Effox-Flextor damper business with the damper business of Mader Machine Co., a CHIEF Capital portfolio company. CECO will hold 70 percent of the equity and consolidate the joint venture.
