Chicago, Illinois – September 18, 2019; City Capital Advisors, a Chicago-based middle market investment bank, is pleased to announce that it acted as exclusive financial advisor to PeopleFlo Manufacturing, Inc. in the creation of a technology licensing agreement with PumpWorks, a DXP Enterprises, Inc. company to bring to market a sealless mag-drive ANSI pump for chemical and general industrial services that has a transformational end-user value proposition vs. other chemical process mag-drive pumps on the market today.
“We are extremely pleased to be able to provide PumpWorks and DXP with this breakthrough pump technology. We believe PumpWorks commitment to innovation, rotating equipment reliability improvement and overall cost reduction for their customers makes them the ideal partner for this exciting new technology” said Bill Blankemeier, President of PeopleFlo Manufacturing, Inc.
In a joint statement Trey Maxwell, Vice President of Manufacturing for PumpWorks and Skip Giessing, Vice President of DXP Rotating Equipment Division, said, “We believe the patented technology developed by PeopleFlo will be a step change in sealless pump technology for chemical and general industry services. For the first time customers will be able to choose a metal sealless pump with the efficiency of a conventional sealed pump at a price that is competitive with a conventional sealed pump. We are able to provide customers with a drop-in change-out from a sealed pump to a sealless pump in the same footprint without changing the motor and, in some cases, the casing – this is first time customers will have that opportunity.”
PeopleFlo Manufacturing is an engineering design and innovation company. PeopleFlo helps manufacturers develop highly differentiated product lines and production processes to accelerate organic growth.
PeopleFlo’s innovation capabilities are tailored to engineered products and built on a lean systems mindset. These capabilities include idea generation processes, design-make-test idea development processes and their One-Product-Flow production technology.
About DXP Enterprises (DXPE)
Founded as Southern Engine and Pump Company in 1908, DXP was re-chartered in 1979 as Sepco Industries and renamed DXP Enterprises, Inc. in 1996. Over the years, DXP has strengthened its ability to support their customers by acquiring a diverse group of companies with a powerful corporate focus on product expertise, technical services and MROP supply chain management.
Today, DXP is a publicly traded, professional industrial distributor and distribution management company that provides products and services to a variety of industries through its Innovative Pumping Solutions (IPS), Supply Chain Services and Industrial MROP Products and Services segments. DXP continues to stay on the leading edge of technology, training and products while attracting and retaining the best employees. The DXPE corporate strategy is simply to be the best solution for their industrial customers.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-oriented investment banking advisory firm. Each of City Capital’s Managing Directors has more than 20 years of investment banking experience, offering clients the judgment and transaction management expertise honed from successfully executing more than $60 billion of collective merger and capital market transactions. Client engagements are managed exclusively by experienced senior investment bankers, allowing business owners to capture maximum value for their companies and to exceed shareholder objectives.