One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has signed an agreement to acquire TechnipFMC’s Measurement Solutions business (“the Business”), a leading provider of liquid meters, integrated load management metering systems and related digital solutions involved in materials transfer through infrastructure, from TechnipFMC (NYSE: FTI).
The Business offers a broad range of metering products including positive displacement, turbine, ultrasonic and Coriolis meters used in custody transfer applications. It also offers packaged flow measurement and fully automated systems as well as digital solutions related to capturing physical material and fiscal data from within interconnected infrastructure.
The Business encompasses three units: Metering Products; Metering Systems; and Terminal Management, and it services a longstanding blue-chip client base with customers across North America, Europe and beyond. The Business employs approximately 450 people and operates six facilities, including manufacturing locations in Erie, PA, and Ellerbek, Germany.
“The Business is an established global player with exciting growth potential as a standalone company,” said J.B. Cherry, Senior Managing Director at One Equity Partners. “We are thrilled to be partnering with a strong management team and talented employees. One Equity has extensive experience in diversified industrials as well as corporate carve-outs, and we look forward to working with the team to help build the business through organic growth alongside transformational acquisitions, a hallmark of our strategy.”
Upon completion of the transaction, the Business will represent the addition of another corporate carve-out transaction to One Equity’s portfolio. One Equity Partners has completed twenty-one similar transactions across its latest three funds, including eleven which operate in industrial focused end-markets. One Equity has built a reputation as a reliable partner and trusted business steward among corporate sellers seeking to divest their operations.
The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
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