CECO ENVIRONMENTAL CORP (CECO): M&A transaction — CECO Environmental completes divestiture of Fluid Handling business to May River Capital for ~$110M

CECO ENVIRONMENTAL CORP

Enterprise value ~$110M, paid in cash at closing; net proceeds ~$106M with ~$3M in escrow.
Divested business includes Dean, Fybroc, Sethco pump brands serving over 1,500 global customers.
Company intends to use proceeds to pay down debt and fund strategic growth investments.
Divestiture aligns CECO portfolio on higher-growth opportunities in energy, industrial air/water, and energy transition.
Sale follows recent acquisitions of Verantis Environmental and Profire Energy, creating capacity for further investment.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CECO ENVIRONMENTAL CORP completed a disposition involving May River Capital through its special purpose entity Tusk Industrial OpCo Acquisition LLC for $109.5 million (closed 2025-03-31).

Action: disposition
Counterparty: May River Capital through its special purpose entity Tusk Industrial OpCo Acquisition LLC
Consideration: $109.5 million
Closing: 2025-03-31

Exact text from the filing

acquired the Purchased Assets, Assumed Liabilities, issued and outstanding Equity Securities, and Assigned IP (each term as defined in the Agreement) for a purchase price of $109.5 million, subject to purchase price adjustments. The Company retained historical asbestos liabilities and the related legacy insurance policies. On March 31, 2025, the Company received

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Source: SEC EDGAR

accession 0000950170-25-050881

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