PumpMan Holdings, a portfolio company of Soundcore Capital Partners, has acquired Alyan Pump. Alyan is Soundcore’s first add-on acquisition for its PumpMan platform investment.
Alyan Pump is a provider of pumps, pump system installations, maintenance and repair services to the commercial, industrial, municipal and residential markets in the mid-Atlantic region of the US. The company’s products include pre-engineered packaged systems for condensate return systems, boiler feed units, constant speed pressure boosters, circulator pumpsets, variable speed pumping packages, fuel oil modules, heat transfer systems, and specialty packaged pumping systems, as well as column and submersible sump and sewage packages. Alyan Pump was founded in 1955 by L.J. Alyanakian and is headquartered in the Philadelphia suburb of Folcroft (www.alyanpump.com).
“We are delighted to acquire Alyan and to work with its employees and customers to build on the company’s long history of success,” said Don Devine, the CEO of PumpMan. “We believe we can provide additional resources and expertise to help accelerate Alyan’s growth and provide greater value to our customers in the future.”
PumpMan, acquired by Soundcore in September 2016, provides service and repair capabilities for all types of pumping systems. Services include repair/replacement of seals, bearings, shafts, impellers; machining of pump parts; motor rewinds; laser shaft alignments; impeller trim and balancing; and complete rebuilds or redesigns of pumping systems. PumpMan has more than 2,700 customers in the municipal, commercial, industrial and residential markets across Southern California. The company was founded in 1976 and is headquartered east of Los Angeles in Baldwin Park, CA (www.pumpman.com).
“Alyan is an important add-on for PumpMan,” said Jarrett Turner, Managing Partner of Soundcore. “The acquisition expands the existing PumpMan footprint to the mid-Atlantic region of the United States, creating a new territory for the business. It aligns with our thesis of becoming the national leader in the pump maintenance and repair industry, and is highly representative of the types of acquisitions we are seeking for PumpMan.”
Soundcore Capital Partners invests from $4 million to $30 million of control equity in lower middle market companies that are headquartered in the US or Canada. Typical targets will have from $3 million to $15 million in EBITDA. Sectors of interest include automotive, building products, business services, chemicals, consumer products, distribution, energy services & products, food & beverage, general manufacturing, healthcare services, industrial machinery & services, packaging, plastics, and transportation. Soundcore was founded in 2015 and is based in New York (www.soundcorecap.com).
The buy of Alyan is the firm’s third acquisition of 2017. Earlier this month Soundcore acquired Sweeping Corporation of America, one of the largest independent power sweeping companies in the United States, and its sister company, Sani-Tech JetVac.
© 2017 Private Equity Professional | March 30, 2017
