We have finalized the sale of our Filtration business unit to London headquartered private equity firm, PX3 Partners (PX3), effective October 2, 2023. With the transaction now concluded, we remain focused on accelerating the strategic transformation of our leading flow control solutions through reinvestment in the business, our employees, and the pursuit of strategic acquisitions that complement our core strengths.
Our President and CEO Jose Larios commented: “We are very proud of the Filtration group’s management team and employees for their many accomplishments and wish them all a great deal of success as they build a Filtration Champion with their new ownership group. This represents a pivotal part of our journey at Celeros FT, as it enables us to focus on providing premier engineered solutions through our pump, valve and closure products that help our customers build a secure, low-emissions energy future. Our teams around the world have been working hard to transform our business to be the leading partner in the nuclear, defence, carbon capture and traditional energy markets through our high technology solutions.”
“Our partnerships with our customers are enduring, however our purpose is evolving at this inflection point into a mantra of ‘delivering advanced technology for a cleaner future’. Our teams are at the forefront of engaging in robust environmental, societal and governance practices, and I’m impressed every day by their commitment to our shared values. While I’m personally very excited about the future of our business, I’m also enthusiastic about the outlook of the industry overall for those who choose to participate in solving the toughest challenges. The last several years have proven the importance of having dedicated, proven experience to resolve the world’s most complex energy problems and I know our teams can deliver. With the knowledge and experience embedded in our fantastic brands and our team members’ commitment around the globe to being partners throughout the full lifecycle of our products, we are well positioned to drive sustained growth in the years to come.”
“As always, we need to recognize the great work of our teams across the company, as well as our advisors and business partners, for their hard work and positive contributions to today’s announcement and our progress this year,” concluded Larios.