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EnPro Industries Inc., a leading manufacturer of engineered industrial products, announced the acquisitions of CC Technology, Progressive Equipment Inc. and Premier Lubrication Systems Inc. These businesses design and manufacture lubrication systems used in reciprocating compressors and will become part of Compressor Products International, an EnPro Industries company. The transactions were completed for cash; terms were not disclosed.
"These acquisitions support CPI's commitment to developing a full range of technical products and services for the reciprocating compressor market," said Steve Macadam, president and chief executive officer of EnPro. "They bring new and important capabilities that support CPI's goal of becoming a single source where compressor operators turn for maintenance and operational improvements to their equipment."
The acquired companies' products and services increase efficiency and reduce maintenance for reciprocating compressors used in natural gas, refining and petrochemical markets, where CPI is well established as a leader in material technology. The acquisitions are an important addition to CPI's existing capabilities and provide the acquired businesses with access to CPI's global sales and marketing network. CC Technology is based in Midland, Texas; Progressive Equipment and Premier Lubrication Systems are based in Houston.