Business

Sumitomo Construction Machinery Co., Ltd. (SCM), a leading manufacturer of hydraulic crawler excavators headquartered in Tokyo, Japan, has acquired full ownership of LBX Company (LBX) headquartered in Lexington, KY, from Case Construction Equipment.

Diversified manufacturer ITT Corp., White Plains, NY, has signed an agreement to purchase privately held Godwin Pumps, Bridgeport, NJ, for $585 million to expand its footprint in the global market for dewatering pumps and the rental market. Godwin is a leading supplier of automatic self-priming portable pumps used for drainage pump rental, services and sales serving the global industrial, construction, mining, municipal, oil and gas segments.

Advertisers from the print edition, August 2010, Vol. 65 No. 8.

Pure Technologies Ltd. announced July 28 that it has agreed with the shareholders of The Pressure Pipe Inspection Company Ltd. (PPIC) to purchase all of the issued and outstanding shares of PPIC for up to $34.9 million in cash and common stock of Pure. Both companies' boards have approved the transaction, subject to certain conditions and to the approval of the TSX Venture Exchange. The transaction is expected to close by August 31, 2010.

Since 1966, DFI Corporation has supplied the oilfield construction industry with first-class pile-driving, pile supply and trucking services. As the core business for DFI, oil and gas have provided the company with significant growth and success; however, the seasonal nature of the oil and gas industry means that projects are not balanced throughout the year.

Business updates from Ritchie Bros., John Deere, Miller Pipeline, CONTECH, WilsonMiller, Sukut Construction, AEM, Dexter + Chaney, Spectrum Construction Software, GEI Consultants and Cardno TBE, plus web exclusives from Ledcor, EPRI, PPI Solutions and Millennium Pipeline.

Committed to providing their customers with the products and solutions they need to succeed in business, Vermeer Corporation has newly redesigned the company Web site — Vermeer.com.

Advertisers in the print edition of Underground Construction, July 2010, Vol. 656 No. 7.

Environmental Crossings Inc. (ECI) announced June 3, that long time shareholder Bruce Brasher has purchased all of the outstanding shares and has assumed the position of president. Greg Charney of Lone Star Investments Corp., The Woodlands, TX, was advisor on this transaction and sourced the needed financing.

KSEnergy Services announced that CIVC Partners, in partnership with True North Equity, has acquired an interest in KSEnergy Services. CIVC is a 40-year-old Chicago-based private equity firm with over $1.3 billion under management and a long history of investing in highly successful, closely held businesses. True North is a Detroit-based firm that makes investments in utility maintenance companies.

Syndicate content