DeZurik water business acquired by Minnesota based investment group
DeZurik Water Controls announces that a local investment group in St. Cloud, Minn., has acquired the company from SPX Corp. Former president Al Kremers is named chairman and CEO...
SARTELL, MN, Feb. 14, 2005 -- The water business division of DeZurik, a leading manufacturer of valves for water and wastewater applications, has been acquired by Granite Equity Partners, a private investment company based in St. Cloud, Minn. The purchase, from SPX Corporation, includes all operations and products of the DeZurik water division including its Sartell, Minn., headquarters and manufacturing plant.
The new company, doing business as DeZurik Water Controls, is a descendent of the original DeZurik Corp. that has produced a variety of valve lines for more than 75 years. DeZurik Water Controls will continue to produce a full range of water industry products. Present production includes eccentric plug valves, a unique valve concept developed by DeZurik, as well as multi-port plug valves and AWWA butterfly valves.
Originally a family-owned company, DeZurik Corp. was founded in the late 1920s as a manufacturer of machines for the pulp and paper industry. That original industry exposure led to development of associated valve products and ultimately to the full valve product line as offered today. DeZurik activity in the water industries was heightened with federal clean water legislation, leading to product development programs and expanded production capability to serve this growing market segment. The company experienced a number of corporate ownership changes beginning in 1972 and concluding with its association with SPX that began in 1998. Acquisition by Granite Equity Partners returns the DeZurik water business division to local ownership and control.
Al Kremers, former DeZurik president, has been named chairman and CEO of the new company. Under his direction, a new management group has been formed including other experienced DeZurik personnel familiar with products and operations of the original company. According to Kremers, the new company will pursue a more active role in addressing present needs of the water markets and in providing enhanced products and expanded manufacturing capability to keep pace with changing industry requirements.
For more information, see the company website: www.dezurikwater.com.