PR Newswire | Jul 12, 2021 08:01AM EDT

Business of Emerson Electric

07/12 07:00 CDT

Turnspire Capital Partners Agrees to Acquire the Daniel Measurement and Control Business of Emerson Electric NEW YORK, July 12, 2021

NEW YORK, July 12, 2021 /PRNewswire/ -- Turnspire Capital Partners LLC ("Turnspire") announced today that an affiliate has signed a definitive agreement to acquire the Daniel Measurement and Control business ("Daniel" or the "Company") from Emerson Electric Co. (NYSE: EMR).

Headquartered in Houston with a state of the art, strategically located manufacturing facility in Chihuahua, Mexico, Daniel is a global leader providing flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries. With an 85-year heritage as the preeminent supplier of engineered solutions for flow measurement in custody transfer applications, Daniel is the most trusted brand for customers across the energy and hydrocarbon supply chain.

The transaction includes all of Daniel's brand rights, facilities, intellectual property and personnel. Emerson's fiscal & custody transfer systems and ultrasonic flowmeter businesses are not included in the transaction.

Abel S. Osorio, Partner of Turnspire, said, "Turnspire is excited to establish Daniel as an independent flow measurement and control company built on the foundation of its iconic brand, unparalleled reputation for reliability, superior technology and global installed base. We are committed to supporting the Company as it pursues its attractive organic growth opportunities and strong pipeline of strategic acquisition opportunities. We look forward to partnering with the Daniel team to further solidify the business' market leadership and invest in research and development, technology and new products."

Completion of the transaction is expected in the third quarter of 2021 and is subject to customary closing conditions and approvals.

Chapman and Cutler LLP is acting as legal counsel to Turnspire with respect to the transaction.

About Turnspire Capital Partners

Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire's investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its companies best-in-class in their respective industry niches, and subsequently to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.

CONTACT Mark SemerGasthalter & Co.(212) 257-4170turnspire@gasthalter.com

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SOURCE Turnspire Capital Partners