Wicor Acquires Pump, Manufacturing Companies

Wicor, Inc., a Milwaukee-based holding company with businesses in energy services and pump manufacturing, has made three acquisitions during the first two weeks of the new year. The are: Edwards Manufacturing, Inc. (Portland, OR); Precision & Valve Co. (Farmington, MN); and Lurmark, Ltd. (Cambridge, UK). All three companies have small industrial pump businesses.

Edwards is a $6 million manufacturer of firefighting and industrial pumps and pumping systems. Edwards is best known for fire suppression systems used in high-risk, high-value facilities (aircraft hangars and communications and computer centers). It also makes and distributes pumps for industrial and high-purity chemical and semiconductor processing.

"Edwards is a leader in stationary fire services, a segment of the market in which we've wanted to grow," says Wicor chairman/CEO George E. Wardeberg. Edwards will become part of the Wicor's Hypro subsidiary, which makes FoamPro fire truck-mounted foam proportioning systems.

Wardeberg also notes that the company's industrial product line fits well with WICOR's existing industrial business. "This is not a large acquisition," he explains, "but it's packed with potential for synergies related to our products, distribution and customers."

Precision & Valve and Lurmark, both privately held, manufacture and distribute fittings, valves, nozzles, gauges and other equipment for the agricultural and industrial markets. The companies' combined 1999 sales were approximately $15 million.

Precision and Lurmark complement Wicor's Hypro agricultural pump subsidiary. "The combination creates the only pump company that can offer a complete line of fittings, valves, gauges and nozzles to this market," says Wardeberg. The Lurmark acquisition also shores up the company's overseas presence.

In all three cases, Wicor will retain the acquired company's management and facilities.

By Alan S. Brown