PG Flow Solutions Acquires Calder

PG Flow Solutions AS (PG), majority owned by Norvestor VI, L.P. has acquired 100 percent of the shares in the U.K. high-pressure pumping specialist Calder ltd.

 

Calder’s founder and chairman, Ian Calder-Potts, will continue his active role in the business as a board member in PG, and will own 14 percent in the merged company following a significant reinvestment. Key members of Calder management have invested in PG, including managing director Peter Elton, director of engineering Peter Elliott-Moore and sales director Steve Sharp.

 

“Like PG, Calder has for more than 30 years worked closely with customers to provide reliable, high quality, cost effective pump solutions,” said Roy Norum, CEO of PG. “Despite our many similarities, Calder and PG have very few overlaps in terms of products, solutions, customers and geographical footprint. Through Calder, PG takes an important step in broadening our portfolio and strengthening our competitiveness and international presence.”

 

Following the acquisition of Calder, Norvestor will hold 58 percent of the shares in PG, with the remaining shares mainly owned by members of PG and Calder management. In 2014 the companies had combined revenues of about NOK 860 million (USD 102.6 million) and will at the time of closing have 200 employees across its five locations.