Clyde Blowers $1 Billion Deal to Include Union Pump

Clyde Blowers [1], the East Kilbride-based group owned by Scottish entrepreneur Jim McColl, today announced that they have reached a definitive agreement to acquire an entire business unit from American Fortune 500 company Textron.

The deal, with a total value of $1 billion, involves the purchase by McColl of four separate businesses from Textron, one of the world's largest and most successful multi-industry companies.

These comprise the American giant's entire Fluid and Power Division. The companies are:

• Maag Pump Systems
• David Brown Gear Systems
• David Brown Hydraulics
• Union Pumps

To read the full Clyde Blowers press release in full, please click here [2]

For Clyde Pumps this acquisition has tremendous benefits as Union Pumps will integrate with Clyde Pumps. Together the companies will offer a comprehensive range of centrifugal and reciprocating pumps for the conventional power, nuclear power, downstream oil & gas, upstream oil & gas, water and industrial markets, including desalination, as well as a comprehensive range of after market services.

Both companies have a strong heritage with Union dating back to 1885 and Clyde Pumps, incorporating Weir Pumps, dating back to 1871. The companies have a combined rich brand heritage including brands such as Weir Pumps, Mather & Platt, Girdlestone, David Brown Pumps, Union Pump, as well as having licence rights to the DB Guinard Pumps brand. Collectively these brands enjoy a loyal customer base of major contractors and end users.

Jim McColl said: “The integration of these two businesses together with an exciting Clyde Pumps joint venture with WPIL (formerly Worthington Pump India Ltd), and a joint venture in China which is expected to be finalised by the end of October, will create a new global pumps business capable of competing effectively in several high growth, high margin markets."

”The transformation in 18 months of the Weir Pumps business, which was acquired by Clyde Blowers from a single site business based in Glasgow, to a truly global company with the products, scope and scale to serve all its customers across the globe, was a key driver for this acquisition. Now that this has been achieved, a detailed plan to integrate the two businesses, which has been worked on for several months, will be put into
action.