Specialty valve engineering and manufacturing company Hunt Valve has completed its acquisition of Arizona, US-based Pima Valve.
Located in Chandler, Arizona, Pima Valve supplies server-duty bronze marine valves, in addition to a variety of special bronze and alloy steel products that meet specific performance requirements for US, Canadian and NATO-friendly Navy ships and commercial marine applications.
"The financial and organisational 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 US Navy drive towards a 355-ship fleet and solving US Navy supply chain challenges," added Charles Ferrer, Hunt Valve's president. "Pima Valve expands and complements Hunt Valve's product offering and provides access to additional US Navy and international shipyards as well as industrial customers."
Hunt Valve is a portfolio company of May River Capital, a private equity firm based in Chicago, US. "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 CEO.
"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," concluded 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."
POPULAR NEWS STORIES
LATEST VIDEOWhy GEHO positive displacement pumps are the lifeblood of this mine