Deal Details

CPI Sold to Howden

Energy
Industrial

CPI, a division of Enpro, sale to Howden

Summary

Compressor Products International (“CPI” or the “Company), a division of Enpro Industries, Inc. (“Enpro”) (NYSE: NPO), recently announced its sale to Howden Group (“Howden”), for an aggregate purchase price of $195 million. The transaction is subject to customary closing conditions and other adjustments, including regulatory reviews, and is expected to close in the first quarter of 2022.

Baird served as financial advisor to Compressor Products International on this transaction.

About

CPI is a leading designer, engineer and manufacturer of a broad range of precision-engineered aftermarket and OEM components serving the global reciprocating compressor industry. CPI’s diverse solution mix includes compressor sealing and wear components, valves, lubrication components and systems, condition monitoring devices and maintenance, reconditioning and overhauling services. CPI leverages its differentiated materials science, engineering and application expertise to provide solutions to customer’s unique operating conditions. The Company is headquartered in Houston, Texas and operates through 15 facilities in nine countries.

Enpro is an industrial technology company focused on niche applications across many end-markets, including semiconductor, photonics, industrial process, aerospace, food and pharma and life sciences. Enpro is headquartered in Charlotte, North Carolina.

Howden is a leading global provider of mission critical air and gas handling products that enables its customers’ vital processes which advance a more sustainable world. Based in Renfrew, Scotland, Howden has over 160 years of heritage as a world-class application engineering and manufacturing company with a presence in 35 countries. Howden manufactures highly engineered fans, compressors, heat exchangers, steam turbines, and other air and gas handling equipment, and provides service and support to customers around the world in highly diversified end-markets and geographies. Since September 2019, Howden has been a portfolio company of KPS Capital Partners, LP.