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By Catherine Kavanaugh
STAFF REPORTER
Published: December 5, 2013 4:39 pm ET
Updated: December 5, 2013 4:41 pm ET
Valve and nozzle maker Control Devices LLC acquired Kerick Valve Inc. to broaden its product line into the industrial and agricultural sectors.
Control Devices, which is based in Fenton. Mo., offers customized and standard components for end-product applications, such as pressure washers, air compressors, fire suppression systems, and heavy truck braking systems.
Kerick Valve, which is headquartered in Jacksonville, Fla., makes PVC float valves for cooling towers, irrigation systems, watering livestock and commercial ice-making equipment.
The two companies’ product lines are “highly complementary,” according to Control Devices’ CEO Chris FitzGerald.
The acquisition deal was announced two months after it closed on Nov. 1 by Generational Equity, which represented Kerick Valve. The firm advises privately held and family-owned business officials about exiting their companies.
Control Devices was advised by Goldner Hahn Johnson & Morrison, which represents privately held, middle-market businesses with earnings between $5 million and $15 million before interest, tax, depreciation and amortization and enterprise values from $20 million to $150 million. | |
