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STAFFORD, TX – December 3, 2008:Compressor Products International (CPI) announced today that it has recently completed three acquisitions. The acquired businesses are Horizon Compressor Services Inc., located in Houston, Texas; RAM Air, Inc. located in New Smyrna Beach, Florida; and C&P Services (Northern) Limited, located in Warrington, UK.
The acquired businesses provide components and aftermarket services for reciprocating compressors to customers in the petroleum, natural gas, PET bottle molding and chemical processing industries in the United States and England. Horizon Compressor Services and RAM Air will be managed by CPI – Americas and C&P Services will be managed by
CPI – EMEAP (Europe, Middle East, Asia Pacific).
“We are quite pleased to announce the completion of these acquisitions in support of the continued growth of Compressor Products International," said Steve Macadam, president and chief executive officer of EnPro. "Acquisitions completed over the past 30 months have greatly increased the products, services and geographic reach of CPI, while giving the acquired businesses access to greater resources and new market channels. We are very enthusiastic about this strategy, which we believe offers significant opportunities to EnPro and Compressor Products International as we seek to expand our product lines and enter new markets."
“Growing our company by acquiring complementary product lines and by entering new markets is a key to Compressor Products International's continued success,” said Tony Gioffredi, president of Compressor Products International. “These companies support our growth by expanding our offerings into field service and by pulling through many of the products we currently manufacture.”
The transactions were completed for cash. Terms were not disclosed.
About Compressor Products International
Compressor Products International, an EnPro Industries company, is an industry leading manufacturer of precision engineered sealing components for reciprocating compressors. In addition to supplying packing, piston and rider ring product lines, CPI offers a complete line of compressor valves designed to provide each customer with maximum performance and reliability for their application. CPI headquarters is located in Stafford, Texas, with additional manufacturing, service and stocking facilities located throughout the world. For more information please visit http://www.c-p-i.com.
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Media Contact:
Jamie Mushinski
Compressor Products International
281-207-4640
jamie.mushinski@c-p-i.com
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