EnPro Industries Inc., which manufactures components for reciprocating compressors and diesel and dual-fuel engines, among other engineered products, purchased privately held Fabrico Inc., adding production of parts for industrial gas turbines to its portfolio.
The value of the all-cash purchase has not been announced. The seller is Fabrico Holding Company LLC, a portfolio company of Prudential Capital Partners III L.P. Patrick Mullane, CEO of Fabrico, will join EnPro in an undetailed role.
Fabrico has operations in Oxford, and Charlton, Mass., and Greenville, S.C., where it has a total workforce. Its products are described as “hot path sections of industrial gas and steam turbines,” and the company has approximately 165 employees.
Fabrico will become part of EnPro’s Technetics Group, which produces high-performance sealing devices for aerospace, semiconductor, power-generation, and oil-and-gas turbine manufacturing. Adding the Fabrico products will position Technetics to become the seal and combustion leader
“We are excited by the breadth of products and manufacturing capabilities that Fabrico brings to our business, and we are confident our combined capabilities will enhance our delivery of highly-engineered components and solutions to our LBT (land-based turbine) customers,” explained Gilles Hudon, president of EnPro’s Technetics Group.
In addition to buying Fabrico, EnPro sold its GRT business to GRT Rubber Technologies LLC in an all-cash transaction valued at $44 million. The buyer is a new investor group, formed to execute the purchase and led by Main Street Capital. GRT’s management team will continue to manage the business
“The acquisition of Fabrico and the sale of GRT represent a concerted effort to reallocate capital to businesses that are central to EnPro’s future growth,” explained Steve Macadam, president and CEO of EnPro Industries.
