May River Capital Establishes a New Flow Control Platform, Tusk Industrial
CHICAGO, April 2, 2025 /PRNewswire/ -- May River Capital ("May River"), a Chicago-based private equity firm focused on lower middle market industrial growth companies, announced today its acquisition of the Global Pump Solutions business of CECO Environmental Corp. (NASDAQ:CECO), including the highly respected Dean, Fybroc, and Sethco pump brands. Going forward, these three brands will be collectively organized under the parent company, Tusk Industrial, a newly formed portfolio company of May River. Tusk Industrial specializes in tough, high-performance pumping and fluid handling solutions engineered to excel in rugged environments.
Tusk Industrial designs, manufactures, and services metallic, fiberglass, and thermoplastic pumps for usage within a diverse range of high-temperature, corrosive, and caustic industrial environments, including chemical processing applications. Under the leadership of President & GM, Ming Cheung, the company has grown to over 100 employees serving over 1,500 customers globally across two locations in Telford, Pennsylvania and Indianapolis, Indiana. Cheung and the broader Tusk Industrial management team will continue to lead the organization under new ownership.
"Partnering with May River marks an exciting milestone for our company," said Cheung. He went on to comment that, "this partnership unlocks incredible opportunities to supercharge our growth, expand our capabilities, and deliver even greater value to our customers. It's an exciting time for our employees, customers, and partners as we take Tusk Industrial to new heights."
Pat St. John, Managing Director of May River, stated, "Tusk Industrial is a standout business with significant growth potential, and we're excited to partner with management to drive its continued success. With our deep expertise in building businesses within the flow control sector, we are committed to investing in new products, expanding into new markets, and pursuing strategic acquisitions - all with the goal of strengthening Tusk Industrial's foundation and, most importantly, delivering greater value to its customer base."
Paul Hastings and TD Securities served as legal and financial counsel to May River while Koley Jessen and EC M&A served as legal and financial counsel to CECO Environmental Corp.
About Tusk Industrial
Tusk Industrial specializes in tough, high-performance pumping and fluid handling solutions engineered to excel in rugged environments – ensuring reliability where failure isn't an option. Tusk Industrial designs, manufactures, and services metallic, fiberglass, and thermoplastic pumps for usage within a diverse range of high-temperature, corrosive, and caustic industrial environments, including chemical processing applications. For more information, please visit www.tuskind.com.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on partnering with lower middle-market industrial growth businesses. The firm invests in high-performing companies in advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com.
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SOURCE May River Capital, LLC