On December 22, 2021, Howden Group ("Howden"), a leading global provider of mission critical air and gas handling products completed the acquisition of the Compressor Products International (CPI) business unit from EnPro Industries, Inc. ("EnPro"), an industrial technology company, for an aggregate purchase price of US$195 million.
The acquisition of CPI is well-aligned with Howden’s strategy of expanding its global aftermarket presence in the compressor market. By leveraging CPI’s strategically located service centres, Howden will expand its aftermarket services and coverage across North America and Europe. The acquisition also reinforces Howden’s role in supporting the ongoing energy transition towards renewable sources of energy.
Fasken advised Howden with a team led by Nicole Park and including Carl Bélanger, Rachel Loizos, Fatima Husnain, Summer Lewis (Mergers & Acquisitions); Huy Do (Competition, Marketing & Foreign Investment); Rosalind Cooper (Environmental Law); Andrew Dixon, Sophie Arseneault, Jeff Adams (Labour, Employment & Human Rights); Mark Penner (Intellectual Property); Ross Gascho (Pensions & Benefits); Larissa Svekla, Alex Burrell (Real Estate); Christopher Steeves, Paul Casuccio, Puyang Zhao (Tax Law) and Christopher Ferguson (Technology, Media & Telecommunications).