Wahlco Announces Purchase of Swiss, British Companies

Wahlco Environmental Systems Inc. said Tuesday that it has bought a Swiss marketer of power plant equipment called Metroflex and one of Metroflex’s suppliers, Pentney Group, a British concern.

The price for both companies totaled $2.1 million, said Wahlco, which makes equipment used to reduce air pollution by electric utilities.

The deal also includes an agreement in which the former owner of the two acquired companies will receive a portion of any profits over the next five years, up to a maximum of $2.5 million.

In addition, Wahlco agreed to take over the two companies’ debts, an amount that wasn’t disclosed.

Metroflex, based in Baar, is primarily a marketing company that sells diverters for moving gas flows around power plants. Pentney Group, based in Chesterfield, England, makes products for Metroflex and also provides fans and other equipment to utilities.

The two companies reported nearly $20 million in revenues last year.

Wahlco said the purchase of these two companies and another company bought a few days earlier, Teddington Bellows, a Welsh maker of power plant equipment, gives Wahlco a better foothold in the European market.

Wahlco, based in Santa Ana, earned $9 million last year on revenues of $57.7 million. The new acquisitions will operate primarily out of Pentney Group’s offices.