HOUSTON – Flotek Industries, Inc. and ProFrac Holding Corp. jointly announced Flotek's acquisition of power generation assets and related intellectual property (the "Acquired Assets") from ProFrac GDM, LLC ("ProFrac GDM"), a subsidiary of ProFrac, for $105 million. Flotek concurrently entered into an agreement for a six-year dry lease of the Acquired Assets with ProFrac GDM (the "Lease Agreement").
NEWS
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FOUNTAIN VALLEY, Calif. – PERC Water has received the Arizona Water Association’s Wastewater Project of the Year Award for its role in the Sarival Water Reclamation Facility project.
CHARLOTTE, N.C. – SPX Technologies, Inc. has announced that it has completed the acquisition of Sigma Heating and Cooling and Omega Heat Pump. The purchase price of approximately $144 million (CAD 200 million) reflects an acquisition multiple consistent with SPX’s typical range of 8x-12x Adjusted EBITDA*.
Greenville, S.C. – Integrated Power Services (IPS) has named John Burant to the position of market general manager for mining. “This reflects the increased focus IPS has placed on supporting customers in the mineral, mined fuel and fertilizer markets,” said John Zuleger, IPS president and CEO.
EASTON, Penn. – Victaulic has announced Gary Moore, executive vice president and chief revenue officer, will retire at the end of April after 37 years of distinguished service with the company.
CHICAGO – Littelfuse, Inc. has announced that Meenal Sethna, executive vice president and chief financial officer, will step down from her role after ten years of leadership. She will remain with the company through September 1, 2025, to ensure a smooth transition.
LYNDHURST, N.J. – NAVAC Vacuum has promoted Mike DeLisi to vice president, Vacuum Technology (VT) Business Unit. In this role, DeLisi will oversee business strategy and execution, and will lead a dedicated team in driving NAVAC’s industrial vacuum growth, while also spearheading marketing initiatives and product management.
HOUSTON – Mitsubishi Heavy Industries Compressor International Corporation (MCO-I) has named Shohei Toyota president and CEO.
Toyota brings 28 years of experience with Mitsubishi Heavy Industries, Ltd. (MHI) and a distinguished record of driving innovation to MCO-I. His new role underscores MCO-I’s commitment to strengthening its North American presence and advancing its after-sales services.