Hunt Valve Company Completes Acquisition of Pima Valve
SALEM, Ohio, Nov. 5, 2019 /PRNewswire/ -- Hunt Valve Company (Hunt Valve), a specialty valve engineering and manufacturing company serving the United States Navy and industrial customers worldwide, announced today that it has completed its acquisition of Pima Valve.
Located in Chandler, AZ, Pima Valve supplies severe-duty bronze marine valves. The company also has a large variety of special bronze and alloy steel products that meet specific performance requirements for U.S., Canadian and NATO-friendly Navy ships and commercial marine applications.
"The financial and organizational resources afforded by Hunt Valve's acquisition of Pima Valve underpins a strategic push toward high-performance, cost-effective manufacturing and technical know-how that will be a key part of the Navy supply chain in the coming years," said David Bala, President of Pima Valve and MB Valve, divisions of Hunt Valve. "Hunt has demonstrated through its acquisition and integration of MB Valve in March 2019 that they understand our business. The Hunt Valve team has deep bench strength in our industry. Combine that strength with what MB Valve and now Pima Valve bring to the table, and our customers will see the benefit in the long haul."
"The Pima Valve acquisition is yet another example of Hunt Valve's commitment to strategically deploy capital in support of the U.S. Navy drive towards a 355-ship fleet and solving U.S. Navy supply chain challenges," said Charles Ferrer, Hunt Valve's President. "Pima Valve expands and complements Hunt Valve's product offering and provides access to additional U.S. Navy and international shipyards as well as industrial customers."
Hunt Valve Company is a portfolio company of Chicago-based May River Capital, a private equity firm focused on lower middle-market industrial growth businesses. May River Capital completed a recapitalization of Hunt Valve Company in December 2018 by May River Capital Fund I, LP.
"On behalf of Hunt Valve and May River Capital, we would like to congratulate Frank Buzan and Lisa Smith, of JA Moody on the sale of Pima Valve to Hunt and express our sincere thanks for the privilege to work with the tremendous business and team they have built to accelerate the company's profitable growth," added Brad Sterner, Hunt Valve Chief Executive Officer.
"We are proud to support Hunt Valve's growth both organically and through acquisitions of high-performing businesses such as MB Valve and now Pima Valve," said Stephen Griesemer, Partner at May River Capital. "We continue to evaluate additional add-on acquisitions that would benefit from Hunt's scale and capabilities in support of the Navy supply chain."
ABOUT MAY RIVER CAPITAL (www.mayrivercapital.com)
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services and value-added industrial distribution businesses.
ABOUT HUNT VALVE COMPANY (www.huntvalve.com)
Hunt Valve brings decades of fluid power engineering innovations and solutions to a wide range of industrial and military customers. It specializes in severe duty valves and complementary engineered components and system solutions for applications that include primary metals, energy, process, and U. S. Navy nuclear-powered vessels, including all submarines and carriers in operation as well as the Virginia Class, Columbia Class and Ford Class.
CONTACT
Michael Shmarak for May River Capital
312.919.9222
Jeremy Bednarski for Hunt Valve Company
440.914.4700
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SOURCE May River Capital
