April 27, 2016
Peerless’ heat exchanger business sold to Koch Heat Transfer
Bulkley Capital served as exclusive financial advisor to PMFG, Inc., parent company of Peerless Mfg. Co. (Dallas, Texas), a publicly traded manufacturer of high-efficiency separation equipment and environmental pollution control systems, in the sale of Peerless’ heat exchanger business to Koch Heat Transfer Company, LP (Houston, Texas).
Bulkley Capital was engaged by PMFG to structure a sale of the company’s heat exchanger product line and manufacturing facility, having received an unsolicited offer from a prospective buyer. PMFG was interested in divesting this business line in order to focus on its core products and services.
The heat exchanger business was successfully sold to Koch Heat Transfer Company, a subsidiary of Koch Industries, a diversified multinational corporation based in Wichita, Kansas.