Fallowfield Township's Gardner Denver Nash acquired, but still going strong
Although Gardner Denver Nash has agreed to be acquired by Kohlberg Kravis Roberts and Co., the future of the Fallowfield Township-based manufacturing facility appears strong.
Last year, the firm moved into the Alta Vista Business park, located just off Interstate 70 in Fallowfield Township.
The Alta Vista site is the divisional global headquarters and North American distribution center for Nash LLC.
The company was the first to move into the second phase of the park.
Gardner Denver Inc. is parent company of Nash LLC.
The company produces liquid ring pumps and compressors for use in the oil and gas, petrochemical, paper, mining, and general industrial products industries.
The company's office staff moved into Alta Vista a year ago and production began in the spring of 2012.
By the summer, the company's Elizabeth facility began moving its steam ejectors and liquid ring production to the Fallowfield Township plant.
The company's North American distribution, research and development, and marine naval units will eventually call Alta Vista home.
Alta Vista Business Park is owned by the Middle Monongahela Industrial Development Association.
When MIDA recruited Gardner Denver Inc. to the park, LaCarte Development Association built and reached a lease agreement with the firm to move its divisional global headquarters and North American distribution center into phase 2 of the park.
John LaCarte, a partner in LaCarte Development Association, said he expects the company to remain viable in the Valley.
“We'd expect there would be no affect on that (facility),” LaCarte said. “In every conversation we've had with Gardner Denver Nash, they've indicated there would be no affect. It will be business as usual.”
LaCarte noted that Gardner Denver Nash has expanded and added new product lines. The company's headquarters is located at the Fallowfield Township site.
“We have no reason but to believe this will be a positive thing,” LaCarte said.
Gardner Denver Nash's site is an industry leader.
The Gardner Denver Nash project was named the Build-to-Suit Industrial Award winner by The National Association Of Industrial and Office Properties, Pittsburgh Chapter.
LaCarte plans to accept the award at an event Thursday in Pittsburgh.
According to a release issued by the company announcing the merger, KKR will acquire all of the outstanding shares of Gardner Denver common stock for $76 per share in cash. This price represents a premium of approximately 39 percent to Gardner Denver share price on Oct. 24, 2012, the day before the Company confirmed that it had begun to explore strategic alternatives.
The merger is subject to approval from Gardner Denver's shareholders, regulatory approvals and other customary closing conditions.
The board of directors of Gardner Denver Nash unanimously approved the merger agreement and recommends that Gardner Denver shareholders vote in favor of the transaction. The transaction is currently expected to close in the third quarter of 2013.
In a released statement, Pete Stavros, a member of KKR and head of the firm's Industrials investment team, said, “The long-term future of Gardner Denver is bright.”
“Gardner Denver is an outstanding business with a rich heritage of manufacturing excellence, innovation and quality that spans well over 100 years,” Stavros said in the statement.
“The company has an impressive group of talented and dedicated employees, and we look forward to working closely with them to drive future growth and value.
KKR is not new to the Valley.
In 1998, Borden and KKR acquired Corning Glass. The glass manufacturer, which includes a manufacturing facility in Charleroi, became World Kitchen in 2000.
KKR is no longer a part of the World Kitchen ownership.
Chris Buckley is a staff writer for Trib Total Media. He can be reached at 724-684-2642 or email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Mon City man killed in WWII honored in Holland
- Belle Vernon students advance to state history competition
- Donora native at forefront of scientific research
- Crawford recognized by Greater Rostraver Chamber of Commerce for ‘unique desire to help others’
- North Belle Vernon man accused of ‘extraordinary, physical abuse’ of infant
- Venetia man charged after allegedly pointing pistol at slow driver in the fast lane
- Tourism grant funds give boost to Brownsville
- Ringgold Rams Club offers helping hand to district programs