Wasserstein & Co. has acquired High Pressure Equipment Co. The sellers are the James family who will retain an ownership interest. Financial terms weren’t announced. Erie, Pa.-based High pressure makes specialty valves for high pressure applications.
Wasserstein & Co., on behalf of its private equity investment fund Wasserstein Partners III, has acquired High Pressure Equipment Company, a leading manufacturer of specialty valves for high pressure applications. Wasserstein & Co., together with High Pressure’s management team, acquired a majority interest in the Erie, PA Company from long-standing shareholders, the James family, who will retain an ongoing ownership interest.
Larry Loper, High Pressure’s President, said, “The collaboration with Wasserstein & Co. will bring significant strategic and financial resources to High Pressure Equipment Company as we work together to expand our capabilities both here in Erie and globally to continue to serve our customers.”
“We are excited to be investing alongside the James family and the management team at High Pressure,” said Robert Fogelson, Managing Director of Wasserstein & Co. “The Company has a long-standing leadership position in a fast-growing industry which will provide a solid foundation for future growth.”
About High Pressure Equipment Company
High Pressure Equipment Company is a leading manufacturer of mission critical valves, fittings, tubing and accessories for use in high pressure applications. The Company’s products operate at pressures up to 150,000 psi and are sold through a global distribution network to diverse end markets, including oil and gas, waterjet cutting and blasting, institutional research, chemical and petrochemical. The Company was founded in 1954 and is headquartered in Erie, PA.
About Wasserstein & Co.
Wasserstein & Co., LP is a leading independent private equity and investment firm, focused primarily on leveraged buyout investments and related investment activities. Wasserstein & Co. manages capital on behalf of institutional and individual investors. The firm is focused on investments primarily in the media, consumer products and water equipment and services industries. Wasserstein & Co. conducts its activities through offices in New York and Los Angeles. For more information, visit www.wasserco.com.