KNOXVILLE, TN, July 26, 2010 -- Aqua-Chem Inc., a leading supplier of water purification systems to the offshore oil and gas, pharmaceutical, beverage and military markets, today announced that it has acquired Houston-based Specific Equipment Company ("SPECIFIC"), a provider of fluid-handling systems for the petroleum industry, resort hotels and other industry segments. Terms of the transaction were not disclosed.
SPECIFIC is Aqua-Chem's second acquisition in less than two years. Matrix, acquired in October 2008, also provides state-of-the-art reverse osmosis systems for marine and land-based applications.
David Gensterblum, Aqua-Chem's President and CEO, said, "With a proven track record in providing offshore watermaking applications, helicopter refueling systems and potable and sanitary water pressure sets, SPECIFIC strengthens our capabilities across key customer industries. At the same time, the acquisition will extend Aqua-Chem's reach to markets outside of the U.S., particularly South America and Mexico, where there is a great need for high-purity water. Now, more than ever, Aqua-Chem is a 'one-stop' solution provider for a full range of desalination systems, offering the optimal solution for every application."
"David Gensterblum and his superb management team are completely focused on creating value for customers," said Gregory L. Greenberg, Senior Partner of Altus Capital Partners
SPECIFIC President Phil Shrader will remain with Aqua-Chem and actively manage the SPECIFIC division. Speaking of his decision to sell SPECIFIC to Aqua-Chem, he said, "Working with Aqua-Chem, we gain production, sales and service capacity in delivering a broad range of products to our customers. Our Houston location facilitates support of Aqua-Chem products in the offshore industry. As always, we stand behind our work, and our equipment speaks for itself."
About Aqua-Chem Inc.
Since 1940, Aqua-Chem
About Specific Equipment Company
Based in Houston, TX, Specific Equipment Company
About Altus Capital Partners, LLC
Based in Westport, CT, Altus Capital Partners Inc. invests alongside management in profitable small to medium-sized manufacturing companies to help seize growth opportunities and solve succession challenges. The partners
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