RelaDyne Acquires CIRCOR Reliability Services Business, Previously COT-PURITECH
RelaDyne, one of the nation's leading providers of lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, has announced the acquisition of CIRCOR International's (NYSE:CIR) Reliability Services division, operating under the brands of COT-PURITECH, CLARUS, LSC, LUBRITECH, SICELUB, and Canadian Chemical Cleaning Services, Inc.
CINCINNATI, Jan. 29, 2019 /PRNewswire-PRWeb/ -- RelaDyne, one of the nation's leading providers of lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, has announced the acquisition of CIRCOR International's (NYSE:CIR) Reliability Services division, operating under the brands of COT-PURITECH, CLARUS, LSC, LUBRITECH, SICELUB, and Canadian Chemical Cleaning Services, Inc.
The CIRCOR Reliability Services division provides critical lubrication management, chemical flushing services, and oil misting equipment to leading customers in Oil and Gas, Refining, Petrochemical, Power Generation, Industrial, Military and Maritime markets. The division was acquired by CIRCOR International as part of the acquisition of the Colfax Fluid Handling Business completed in December 2017.
"The Team at CIRCOR Reliability Services is very excited to be joining RelaDyne Reliability Services," stated Carl Pickard, CIRCOR Senior VP and General Manager of CIRCOR Reliability Services. "It is great that we can join a company that does what we do, thinks like we do, and focuses on serving customers like we do."
The acquisition of CIRCOR Reliability Services includes six market-leading brands, each with unique expertise in their respective areas. COT-PURITECH is a provider of specialty flushing and preventative maintenance services, primarily to the processing and industrial end markets in North America. CLARUS Fluid Intelligence is a provider of specialty flushing and preventative maintenance services to the US Navy and defense end markets. Lubrication Systems Company (LSC) is a provider of automated and control lubrication equipment sales and installation, aftermarket equipment support, and private-label lubrication. SICELUB, with LUBRITECH, is a provider of specialty flushing services and preventative maintenance as well as control lubrication equipment to the South American and European markets. Canadian Chemical Cleaning Services, Inc., located in eastern Canada, provides high velocity oil flushing and chemical cleaning to all industrial sectors across the Canadian landscape.
RelaDyne's Reliability Services division, including the technical capabilities of Turbo Filtration Company (TFC) and Industrial Action Services (IAS), will more than double in size as the result of this acquisition. "The combination of our two services divisions is going to be a game changer for all of our associates and industrial customers," stated Scott Hill, RelaDyne Vice President of Reliability Services. "The entire Services team is excited about the opportunities that will be created with our combined resources, unmatched fleet of assets, enhanced technical capabilities, and coast-to-coast US coverage, now including an international presence."
"The addition of CIRCOR Reliability Services to RelaDyne's services offering will allow us all to operate more efficiently thereby providing our industrial customers with the technical expertise and scope of services they need to run at optimum profitability," said Larry Stoddard, RelaDyne President and CEO. "We look forward to having our great teams work together and the career opportunities that will be available to all our associates."
RelaDyne continues to be the "Acquirer of Choice" in the lubricants, fuel, and reliability segments. "This acquisition represents our most significant investment in the reliability services segment," stated RelaDyne CSO, Jeff Hart. "We will continue to make significant investments to acquire and integrate these companies as we create a national distribution and reliability services platform."
About CIRCOR International, Inc.
CIRCOR International, Inc. designs, manufactures and markets highly engineered products and sub-systems for markets including oil & gas, power generation and aerospace & defense. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers' unique application needs. The Company's strategy is to grow organically and through complementary acquisitions; simplify CIRCOR's operations; achieve world class operational excellence; and attract and retain top industry talent. For more information, visit the Company's investor relations website at http://investors.circor.com.
About RelaDyne
RelaDyne, headquartered in Cincinnati, Ohio, is one of the nation's leading providers of lubricants, fuels, diesel exhaust fluid (DEF), and reliability services for industrial, commercial, and automotive businesses in the United States. RelaDyne was formed in 2010 by the combination of four well-established industry-leading companies and has since grown to more than 60 locations by strategically acquiring other industry leaders in the lubricant, fuel distribution and industrial service segments. For more information, visit http://www.RelaDyne.com.
SOURCE RelaDyne
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