Monroe’s Stancor LP, which delivers products based on integrated pump and control systems, has been acquired and will be integrated with another Connecticut firm to create a new company called Industrial Flow Solutions.
Industrial Flow is a portfolio company of Chicago’s May River Capital, which will merge Stancor with Old Saybrook’s BJM Pumps. The latter manufactures pumps used in industrial and municipal dewatering and wastewater applications.
Financial terms of the acquisitions were not disclosed. Chicago’s Knox Capital Holdings, which had owned Stancor, received $24.5 million in secured financing from TCF Capital Funding to refinance Stancor last October. BJM Pumps was acquired from Longview Asset Management, which is based in Toronto.
Industrial Flow Solutions will specialize in the design, manufacturing, sales and service of pumping and fluid management products for harsh and rugged environments. Stancor CEO Bill Tipton will remain as president of Industrial Flow.