Product category:
Fans and Compressors
News Release from: Peter Brotherhood
Edited by the Processingtalk Editorial
Team on 02 July 2008
Peter Brotherhood to be acquired by
Dresser-Rand
Engineering company Peter Brotherhood - headquartered in Peterborough, UK - has been acquired from the current management team by a subsidiary of the Dresser-Rand Group
Five years ago - in March 2003 - the management team at Peter Brotherhood, headed by managing director Stephen Fitzpatrick, acquired the business from its American parent company, Thermo Electron Corporation Since the buy-out Peter Brotherhood has more than tripled the GBP25 million turnover and has built up the workforce from 240 people to 360
This article was originally published on Processingtalk on 14 Nov 2007 at 8.00am (UK)
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The business has been consistently profitable every year, generating cash throughout that period.
At a meeting of all the company's employees on Monday 30 June, Stephen Fitzpatrick told them that the business would be acquired by Dresser-Rand in a GBP31 million deal.
He said: "We have had five years of impressive growth in the business.
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The combination with Dresser-Rand is expected to facilitate the continued profitable growth of the business.
As a market leader in the world's energy markets, Dresser-Rand will bring financial strength, supplier leverage, technology development and access to global markets".
Peter Brotherhood is a leader in design and manufacture of steam turbines for the generation of electricity from renewable fuels such as waste wood, sugar cane residue and domestic refuse and marine waste heat recovery, as well as gas compressors for oil refineries and petro-chemical plants around the world.
Brotherhood Aircogen CHP (combined heat and power) systems deliver highly efficient heating, cooling and electricity generation.
The company has a joint venture with a major European wind turbine manufacturer which is installing wind turbines across the UK and is in the advanced stages of development - jointly with Cranfield University - of a generator to produce electricity from wave power.
Dresser-Rand - based in Houston, Texas - is among the largest global suppliers of custom-engineered rotating equipment for long-life, critical applications in the oil, gas, petrochemical and process industries.
These products - centrifugal and reciprocating compressors, gas and steam turbines, gas expanders and associated control panels - are used in oil and gas production, high-pressure field injection and oil recovery, gas liquefaction, gas transmission, refinery processes, natural gas processing, petrochemical production applications and general industrial markets.
Stephen Fitzpatrick said: "Dresser-Rand recognise the success we have forged by a clear set of values focusing on customer care and satisfaction and the delivery of great products by a highly motivated and successful workforce.
We are equally proud to be associated with Dresser-Rand".
Vincent Volpe, president and CEO of Dresser-Rand, said: "Both companies have maintained solid reputations for quality, efficiency, economy and reliability.
Leveraging these attributes and combining technical expertise, research and development capabilities, and the worldwide sales presence will enable us to offer a comprehensive line-up of steam turbine and reciprocating gas compressor products backed by outstanding OEM parts and service".
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