Kinecor to buy Weir Process Equipment

Industrial Distribution staff -- Industrial Distribution, 9/3/2008 7:37:00 AM

Montreal-based Weir, formerly known as Peacock Inc., distributes pumps, process controls and instrumentation, filtration products and material handling equipment to the Canadian oil and gas, power generation, mining and infrastructure markets. The company posted sales of about $50 million and earnings of roughly $5 million last year.

The deal, expected to close in September, will see the company integrated into Kinecor’s process equipment business under the Peacock brand.

“We are excited about the future prospects afforded us with this acquisition. Combining this business with our Kinecor operation clearly establishes us as a leading distributor of process equipment in Canada,” said Neil Manning, president and CEO of Wajax Income Fund, Kinecor’s parent company.

Kinecor ranked 25th on INDUSTRIAL DISTRIBUTION’s 2008 Big 50 list of distributors, with 2007 sales of $291.4 million.