Sundyne announces sale from BC Partners and The Carlyle Group to Warburg Pincus
DENVER, CO -- Sundyne, a global leader in the design and manufacture of mission critical flow control equipment, today announced that funds advised by Warburg Pincus, a leading private equity firm focused on growth investing, has agreed to acquire the company from funds advised by BC Partners Advisors L.P. and The Carlyle Group. Terms of the transaction were not disclosed.
Sundyne designs, manufactures and provides aftermarket support for highly engineered, centrifugal pumps and compressors. The company has a global footprint and supplies customers in the oil and gas midstream, LNG, petrochemical, refining, chemicals and industrials sectors. With facilities and expert partners around the world, Sundyne products are integral for running process plants efficiently, reliably and safely. Sundyne's current management team, led by Chief Executive Officer Mark Sefcik, will continue under Warburg Pincus' ownership.
"We are excited to partner with Warburg Pincus as we continue to expand our product offering of highly engineered pumps and compressors and serve the growing demand from our customers. We are confident that working with Warburg Pincus will result in further acceleration through organic and strategic opportunities while building on the momentum we have achieved over the past fifty years," said Mr. Sefcik.
"We are proud of the successful track record we have created at Sundyne in partnership with the company's talented management team and our partners at BC Partners and The Carlyle Group," said Charles Treadway, who had led the Accudyne Industries group, which had included the Sundyne business unit since 2012. "We believe this acquisition is a testament to our long-term strategy and look forward to Sundyne's next phase of growth in the years to come."
"Sundyne's long history of building proprietary, mission-critical products, which are highly regarded for their reliability and efficiency while operating in harsh and complex environments, is unparalleled. The company is well positioned to benefit from the continued growth in its core end markets, given its strong track record, differentiated product portfolio and global installed base," said Dan Zamlong, Managing Director, Warburg Pincus.
"We believe this investment fits our model of backing market-leading companies with sustainable competitive advantages, attractive growth opportunities and first-class management teams. We look forward to leveraging our domain expertise in both the Energy and Industrials sectors to help Mark and the team continue the company's success," added John Holland, Managing Director, Warburg Pincus.
Sundyne was advised by Morgan Stanley & Co. LLC and Latham & Watkins LLP. Warburg Pincus was advised by Citi and Cleary Gottlieb Steen & Hamilton LLP.
The transaction is expected to close in the first half of 2020, subject to regulatory approval.
Headquartered in Arvada, Colorado with operations and presence in Europe, the Middle East, India, Asia, Japan and China, Sundyne is a leading manufacturer of precision-engineered, highly reliable, safe, and efficient centrifugal pumps and compressors for use in hydrocarbon processing, chemical processing, power generation, industrial, and high-pressure water applications. Sundyne is the world leader in delivering low-flow, high-head integrally geared centrifugal pumps and compressors as well as a leader in the supply of safe and leakage-free sealless magnetic drive centrifugal pumps and diaphragm compressors. Sundyne's pumps and compressor designs are compliant with the industry's most stringent API, ANSI/ASME, and ISO standards. To learn more about the Sundyne family of precision-engineered pumps and compressors, please visit www.sundyne.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $62 billion in private equity assets under management. The firm's active portfolio of more than 190 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $79 billion in over 880 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.
About BC Partners
BC Partners is a leading international investment firm with over €20 billion of assets under management in private equity, private credit and real estate. Established in 1986, BC Partners is a pioneer in European private equity, where it has maintained a leading position for over three decades, and has also successfully invested in North America for over a decade. Today, BC Partners executives operate as an integrated team through the firm's offices in North America and Europe. Since inception, BC Partners Private Equity has completed 113 private equity investments in companies with a total enterprise value of €145 billion and is currently investing its tenth private equity fund. For more information, please visit www.bcpartners.com.
About The Carlyle Group
The Carlyle Group is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit, and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.
Sarah McGrath, Warburg Pincus