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WINDSOR — Spencer Turbine has been sold to a subsidiary of Howden Group Ltd., a global provider of air and gas handling products, technologies, and services, based in the United Kingdom.
Spencer Turbine was previously owned by Alliance Holdings Inc., a private investment firm based in Horsham, Pennsylvania. The sale was announced by Matrix Capital Markets Group Inc., an independent investment bank. Howden is a portfolio company of KPS Capital Partners.
Founded in 1892 and based in Windsor, Spencer Turbine, is an independent manufacturer of high-quality solutions for air and gas handling, with sales primarily in the United States and China. The company has more than 90 employees.
Spencer’s president, Tony Mancini, said, “Spencer Turbine is proud to join Howden. … We are known for the quality of our work, people, and service, and we recognize the same focus in Howden.”
Mancini said Spencer will benefit from access to a wider network.
The sale price was not disclosed.
Ross Shuster, CEO of Howden, said acquiring Spencer Turbine further expands the company’s presence in growth markets, including the industrial and wastewater treatment sectors.
Howden, based in Renfrew, UK, said the acquisition of Spencer Turbine will expand its addressable markets by over $1.2 billion. Spencer Turbine will be able to tap into growth opportunities through technology support from Howden and by leveraging Howden’s existing global distribution and aftermarket service network, including its well-established presence in China, South America, and Europe.
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