Emerson Acquires Enardo For Undisclosed Sum
ST. LOUIS (AP) — Emerson Electric Co. said Friday that it has acquired Enardo LLC, a maker of safety equipment for the oil and gas industry. Terms were not disclosed.
The St. Louis-based company said that the addition of Enardo will boost its portfolio of regulator technologies held under its process management business.
Emerson Process Management, whose headquarters are in McKinney, Texas, makes pressure regulators, relief valves and related products. These technologies help control pressure and flow of industrial gas and liquids, natural gas and propane gas.
Enardo, based in Tulsa, Okla., makes tank and terminal safety equipment, including hatches, vent, pressure and vacuum relief valves and flame arrestors used in the oil and gas, petrochemical, chemical and other industries. The company generated revenue of approximately $65 million last year.
Enardo was previously a division of HMT, which sells ground storage tank products and services.
Shares of Emerson slipped 2 cents to $63.71 in midday trading amid a broader market uptick.