Recent industry moves reflect shifts in energy, infrastructure and digitalization. May River rebranded CECO’s pump business as Tusk Industrial, Chevron sold gas assets, and Shell expanded its LNG portfolio. Schneider Electric’s newest Innovation Center supports automation and training, highlighting ongoing advancements in efficiency, sustainability and process optimization for chemical engineers. Read more on these developments below.
CECO Global Pump Solutions Rebranded as Tusk Industrial After Acquisition
May River Capital, a Chicago-based private equity firm, has acquired the Global Pump Solutions business of CECO Environmental Corp., including the Dean, Fybroc and Sethco pump brands.
The three brands will be collectively organized under the parent company, Tusk Industrial, a newly formed portfolio company of May River.
Tusk Industrial designs, manufactures and services metallic, fiberglass and thermoplastic pumps for use in a range of high-temperature, corrosive and caustic industrial environments, including chemical processing applications.
Under President and General Manager Ming Cheung, the company has grown to over 100 employees serving over 1,500 customers globally across two locations in Telford, Pennsylvania, and Indianapolis, said May River Capital in a press statement. Cheung and the broader Tusk Industrial management team will continue to lead the organization under new ownership.
May River Capital also recently acquired flow control manufacturer Cascho and two material processing and handling solutions companies.
Chevron Sells Majority Interest in its East Texas Gas Assets
Chevron U.S.A. Inc., a subsidiary of Chevron Corp., said March 31 it sold 70% interest in its East Texas gas assets to an affiliate of TG Natural Resources LLC (TGNR), a company indirectly owned by Tokyo Gas Co. and Castleton Commodities International (CCI).
Chevron will retain a 30% non-operated working interest in a joint venture with TGNR and an overriding royalty interest in the assets. Tokyo Gas and CCI own an approximate 93% and 7% interest in TGNR, respectively, said the company in a press statement.
The transaction is anticipated to generate over $1.2 billion in value to Chevron.
This transaction supports Chevron’s previously announced plans to divest $10 billion–$15 billion of assets by 2028 to optimize its global energy portfolio.
Shell Acquires Pavilion Energy
Shell Eastern Trading Pte., a subsidiary of Shell plc, recently completed the acquisition of all shares in Pavilion Energy Pte. Ltd. Shell announced the agreement to acquire Pavilion from Carne Investments in June 2024.
Pavilion Energy, based in Singapore, operates a global LNG trading business with a contracted supply volume of approximately 6.5 million tons per annum. The acquisition includes Pavilion Energy’s portfolio of liquified natural gas (LNG) offtake and supply contracts, regasification capacity and LNG bunkering business.
According to Shell, the acquisition helps to deliver on the company’s ambition to solidify its leading position in LNG by growing sales by 4%–5% per year through 2030. The integration of Pavilion Energy’s assets into Shell’s global LNG portfolio commenced immediately.
Schneider Electric Opens Energy Innovation Center
In early March, Schneider Electric, a provider of digital technologies for energy management and automation, launched its Innovation Center in Houston for the region’s chemicals and energy sectors.
The opening of the 10,500 ft2 facility is part of Schneider Electric’s previously announced €2 billion (US $2.17 billion) incremental capacity investment to support growing digitalization, automation and manufacturing demand.
The center is designed to foster increased collaboration and technological advancements across the entire value chain and complements the company’s existing innovation hubs in Paris, Singapore and Bangalore, said the company in a press statement.
Schneider said the site will serve as a training center for process control engineers, production superintendents, manufacturing managers, technical leads and plant operations personnel. An interactive control room will demonstrate real-world plant simulations across various scenarios, including a refinery, combined cycle power plant, ethylene plant, recovery boiler and chemical reactor, among others.
