SCF Partners Acquires DeltaValve & TapcoEnpro, Leading Providers of Severe Service Industrial Valves, from CIRCOR International
SCFPartners, Inc. (“SCF”) is pleased to announce its acquisition of DeltaValve and TapcoEnpro from CIRCOR International, Inc. (“CIRCOR”). DeltaValve and TapcoEnpro are long-standing, trusted brands, founded in 1982 and 1946 respectively, and are industry leading manufacturers of highly engineered, severe-service industrial valves supporting global energy infrastructure. Headquartered in Salt Lake City, Utah, DeltaValve provides differentiated patented solutions for delayed coking units used in critical energy infrastructure. With its primary location in Houston, Texas, TapcoEnpro is a trusted manufacturer of high-quality severe-service valves and control systems. Their products are used in more than 50 countries to enhance automation and employee safety, reduce equipment failures, improve process reliability and efficiency.
Commenting on the transaction, CIRCOR President and CEO, Tony Najjar, stated, “This transaction marks a significant milestone for CIRCOR as we continue to refine our strategic focus and further our commitment to advancing our core businesses and delivering value to our customers. DeltaValve and TapcoEnpro have delivered exceptional value through innovation and engineering excellence as part of our portfolio, and we are confident that SCF Partners will provide the resources and expertise needed to help drive their future success.”
DeltaValve and TapcoEnpro CEO, Steven Seals, commented, “Thanks to the past support from the CIRCOR team, DeltaValve and TapcoEnpro have established a solid foundation that now positions us for remarkable opportunities to create value for our stakeholders. As we join forces with SCF in this exciting new phase, we are energized and confident about the future. SCF’s focus and impressive track record in the Energy industry make them the perfect partner to accelerate our mission. Together, we are poised to expand our product and service offerings into new areas, while enhancing the exceptional customer support and industry partnerships we’ve cultivated. Our commitment to Profound Value Creation has never been stronger, and we are ready to achieve extraordinary success.”
Garrett Jackson, Director at SCF Partners, added, “We are thrilled to partner with DeltaValve and TapcoEnpro, brands with fantastic reputations in the refining and petrochemical sectors. For decades, these companies have set the standard for delivering specialized products and services that make critical infrastructure operations safer and more efficient. Aging energy infrastructure only increases the need for these critical solutions. Together with the leadership team, we look forward to driving continued success and uncovering new opportunities for growth and diversification.”
Terms of the transaction were not disclosed.
Vinson & Elkins LLP acted as legal advisor to SCF in the transaction. Piper Sandler acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to CIRCOR in the transaction.
About DeltaValve and TapcoEnpro
DeltaValve is a world leader in the design, engineering, and manufacturing of critical service equipment for delayed coking. Their renowned fully automated coke drum unheading technologies and unparalleled support services have become a global standard for safe, reliable, and easy-to-operate coke drum unheading. For more information, please visit www.deltavalve.com.
Tapco International was founded in 1946. Its primary products were FCCU valves, actuators and hydraulic power units (HPUs). Enpro Systems LTD was founded in 1972 and specialized in FCCU valves, vessels and FCCU fabricated equipment. In 2006 these two leading companies joined forces to become TapcoEnpro, providing world class equipment and service developed to outperform industry standards for safety, performance and reliability and becoming the partner of choice for processing facilities, enabling plants to operate safely and without unplanned shutdowns. To learn more, please visit www.tapcoenpro.com.
About SCF Partners
Founded in 1989, SCF provides equity capital and strategic growth assistance to build and grow leading energy service, equipment, and technology companies that operate throughout the world. SCF has invested in more than 80 platform companies and made more than 400 additional acquisitions to develop 18 publicly listed energy service and equipment companies over its history. The firm is headquartered in Houston, Texas, and has offices in Calgary, Aberdeen, and Australia. For more information, please visit www.scfpartners.com.
About CIRCOR
Founded in 1999, CIRCOR International, Inc. designs, manufactures and markets differentiated flow control products and sub-systems for Aerospace & Defense and Industrial customers. The Company has a diversified product portfolio of recognized, market-leading brands (Allweiler®, Houttuin™, Imo®, Hale Hamilton, Aerodyne Controls, CIRCOR Aerospace, RTK®, Schroedahl®, Tushaco®, Warren® and Zenith®) that fulfill its customers’ mission critical needs.
CIRCOR markets its solutions directly and through various sales partners to more than 14,000 customers in approximately 100 countries. The Company has a global presence with approximately 3,000 employees and is headquartered in Burlington, Massachusetts. For more information, visit the Company’s website at http://circor.com.
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