DENVER – Sundyne, which designs and manufactures mission critical flow control equipment, announced that funds advised by Warburg Pincus, a private equity firm focused on growth investing, has agreed to acquire the company from funds advised by BC Partners Advisors L.P. and The Carlyle Group. Terms of the transaction were not disclosed.
Sundyne designs, manufactures and provides aftermarket support for highly engineered, centrifugal pumps and compressors. The company has a global footprint and supplies customers in the oil and gas midstream, LNG, petrochemical, refining, chemicals and industrials sectors. With facilities and expert partners around the world, Sundyne products are integral for running process plants efficiently, reliably and safely. Sundyne's current management team, led by Chief Executive Officer Mark Sefcik, will continue under Warburg Pincus' ownership.
"We are excited to partner with Warburg Pincus as we continue to expand our product offering of highly engineered pumps and compressors and serve the growing demand from our customers. We are confident that working with Warburg Pincus will result in further acceleration through organic and strategic opportunities while building on the momentum we have achieved over the past fifty years," Mr. Sefcik said.
"We are proud of the successful track record we have created at Sundyne in partnership with the company's talented management team and our partners at BC Partners and The Carlyle Group," said Charles Treadway, who had led the Accudyne Industries group, which had included the Sundyne business unit since 2012. "We believe this acquisition is a testament to our long-term strategy and look forward to Sundyne's next phase of growth in the years to come."
"Sundyne's long history of building proprietary, mission-critical products, which are highly regarded for their reliability and efficiency while operating in harsh and complex environments, is unparalleled. The company is well positioned to benefit from the continued growth in its core end markets, given its strong track record, differentiated product portfolio and global installed base," said Dan Zamlong, Managing Director, Warburg Pincus.
"We believe this investment fits our model of backing market-leading companies with sustainable competitive advantages, attractive growth opportunities and first-class management teams. We look forward to leveraging our domain expertise in both the Energy and Industrials sectors to help Mark and the team continue the company's success," added John Holland, Managing Director, Warburg Pincus.
Sundyne was advised by Morgan Stanley & Co. LLC and Latham & Watkins LLP. Warburg Pincus was advised by Citi and Cleary Gottlieb Steen & Hamilton LLP.
The transaction is expected to close in the first half of 2020, subject to regulatory approval.