M&A Deal Summary

Howden Acquires Spencer Turbine

On October 5, 2021, Howden acquired manufacturer Spencer Turbine from Alliance Holdings

Acquisition Highlights
  • This is Howden’s 1st transaction in the Manufacturing sector.
  • This is Howden’s 1st transaction in the United States.
  • This is Howden’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2021-10-05
Target Spencer Turbine
Sector Manufacturing
Buyer(s) Howden
Sellers(s) Alliance Holdings
Deal Type Add-on Acquisition

Target

Spencer Turbine

Windsor, Connecticut, United States
Spencer Turbine is a manufacturer of air and gas handling equipment used in global industrial, municipal, commercial and institutional applications. Spencer Turbine was founded in 1892 and is based in Windsor, Connecticut.

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Buyer(S) 1

Buyer

Howden

Renfrew, United Kingdom
Category Company
Founded 1854
Sector Machinery
DESCRIPTION

Howden is a provider of mission-critical air and gas handling products, technologies, and services. Howden supports multiple sectors including infrastructure, power generation, oil & gas, wastewater, metals, mining, and transportation. Howden was founded in 1854 and is based in Renfrew, Scotland.

DEAL STATS #
Overall 2 of 3
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 1 of 2
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Fancraft

Sasolburg, South Africa

Fancraft is an independent aftermarket services company focused on the maintenance, repair, and installation of air & gas handling equipment and turbomachinery. Fancraft was founded in 1989 and is based in Sasolburg, South Africa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-12 CPI

Stafford, Texas, United States

CPI is a manufacturer of precision-engineered, custom aftermarket products and its broad product offering is critical to the longevity, efficiency and safety of reciprocating compressors. CPI was founded in 2004 and is based in Stafford, Texas.

Buy -

Seller(S) 1

SELLER

Alliance Holdings

Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Alliance Holdings is an employee owned private equity firm focused on providing a variety of investment solutions for lower middle-market companies with $10 to $100 million in revenue. Alliance will consider equity, mezzanine, and additional finance solutions to support buyouts, recapitalizations, growth, and special situation needs. Sectors of interests include industrial, business services, consumer, specialty finance, natural resources, energy, oil/gas, healthcare, and chemicals. Alliance Holdings was formed in 1995 and is headquartered in Horsham, Pennsylvania.

DEAL STATS #
Overall 4 of 4
Sector (Manufacturing) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Connecticut) 2 of 2
Country (United States) 4 of 4
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-18 Walker Magnetics Group

Windsor, Connecticut, United States

Walker Magnetics Group, Inc. provides custom design and manufacture of magnetic products for work-holding, material handling, and separation applications. Walker Magnetics Group was founded in 1896 and is based in Windsor, Connecticut.

Sell -
Mergr

Product

Company

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