Ceco Environmental Corp has successfully completed the sale of its Fluid Handling business, also known as Global Pump Solutions (GPS), to Chicago-based private equity firm May River Capital.
The transaction, valued at approximately $110 million, was settled in cash at closing.
GPS encompasses three industrial pump brands—Dean, Fybroc, and Sethco—specializing in metallic, fiberglass, and thermoplastic centrifugal pumps. Originally acquired by Ceco in 2013, the business operates from facilities in Indianapolis, Indiana, and Telford, Pennsylvania, serving over 1,500 customers worldwide.
Commenting on the divestiture, Ceco CEO Todd Gleason stated, “This strategic move allows us to align our portfolio more effectively with high-growth opportunities in energy and industrial markets. GPS has established itself as a niche leader in its sector, and we believe May River Capital is the right partner to support its continued success and the development of its team.”
May River Capital specializes in partnering with lower middle-market industrial growth businesses. Its portfolio already includes pump manufacturers Industrial Flow Solutions and Unibloc Hygienic Technologies.
