News


Acquisition

Howden to acquire Compressor Products International


Tuesday, 12 October 2021

Share

LinkedIn
Twitter
Facebook

MainImage

Howden, a leading global provider of mission critical air and gas handling products, technologies and services, has entered into an agreement with EnPro Industries (NYSE: NPO) to acquire Compressor Products International (“CPI”), a leading provider of aftermarket components and services to the global reciprocating compressor market. This will be Howden’s sixth acquisition in 2021 and is expected to close following customary regulatory clearances and approvals.

CPI, headquartered in Houston, Texas, USA, has a diverse, global blue-chip customer base with sales primarily in North America, Europe and Asia. It is a manufacturer of precision-engineered, custom aftermarket products and its broad product offering is critical to the longevity, efficiency and safety of reciprocating compressors.  

The acquisition of CPI is well aligned with Howden’s strategy of expanding its global aftermarket presence in the compressor market. By leveraging CPI’s strategically located service centres, Howden will expand its aftermarket services and coverage across North America and Europe. CPI’s valves and aftermarket products are complementary and strategically important additions to Howden’s existing aftermarket compressor technology portfolio. As a result of this acquisition, Howden’s addressable markets will increase by $1 billion.

As part of Howden, CPI will be able to access growth opportunities through additional technology support from Howden and by leveraging Howden’s existing global distribution and services network in China, Asia Pacific and South Africa. With CPI’s predominantly aftermarket revenues, this acquisition will be accretive to both Howden’s aftermarket mix and overall margins.

This acquisition also reinforces Howden’s role in supporting the ongoing energy transition towards renewable sources of energy. Reciprocating compression technology is critical to the energy transition, with applications in hydrogen production and infrastructure as well biofuel production. Howden will leverage CPI’s reciprocating compressor technology to support customers through the energy transition in these critical applications.

CPI’s technology, expertise and aftermarket presence, is an excellent fit within Howden, and will allow us to best serve customers looking to improve the performance and extend the life of their vital compressor assets across a wide range of industries. The synergies for both organisations and the positive impact for the combined customer base is significant. We look forward to welcoming the CPI team into Howden upon closing of the transaction.

Ross B Shuster, CEO of Howden
 

Howden’s growth strategy aligns to several key megatrends such as the energy transition from fossil fuels to renewables, urbanisation and growth in infrastructure, IoT technology enabled services, changing demographics, as well as increases in the demand for natural resources. With an agile business model and teams on the ground globally, Howden keeps its customers at the forefront of new technologies and processes as it adds value through innovation and partnership.


Latest News

Energy

Howden will supply two screw compressor packages to Majnoon oilfield, near Basrah, Iraq.

Bright Futures

An inspirational community based initiative supporting children who have learning difficulties in partnership with De Tender School

Business

Howden has won Impact Individual Achievement of the Year at the Hydrogen Impact Investment Awards 2022.

Energy

Howden screw compressors aid vapor recovery in first of its kind floating production system; Howden contributes to emission control in Gulf of Mexico

Business

Howden has appointed Mark Courtney as Global Market Director of CCUS.

Bright Futures

Howden has signed a national partnership with PRIMARY ENGINEER® to bring engineering into classrooms across Scotland. This new partnership is only one of two in the Scottish region, which will play an important role to link schools into industry partners.

If you would like to submit an enquiry please get in touch.