May 3, 2021

Richards Industrials, a Portfolio Company of Astor Place Holdings, Acquires Equilibar

CINCINNATI, OH —Richards Industrials, Inc. (“Richards”), a manufacturer of regulators, valves, and other flow control products, has announced the acquisition of Equilibar LLC (“Equilibar”). Equilibar is the second strategic add-on acquisition for Richards, which partnered with Astor Place Holdings in July 2019.

Founded in 2007 and headquartered in Fletcher, North Carolina, Equilibar offers a wide range of back pressure, vacuum, and electronic regulators, as well as specialty valves and other fluid control products. Equilibar’s unique, patented, dome-loaded multiple orifice technology provides best-in-class fluid control for some of the most challenging applications in the world.

Jeff Jennings, President of Equilibar said, “We are thrilled to be joining the Richards team. Partnering with Richards and its global network of technical Sales Representatives will allow us to offer our highly engineered solutions to a wider range of customers, particularly in the pharmaceutical and bio-pharmaceutical markets. We look forward to continuing to serve the most demanding fluid applications in collaboration with Richards.”

Equilibar is a highly complementary addition to Richards’s portfolio of precision fluid control equipment. “Equilibar’s product technology and problem-solving capabilities are unparalleled. The team’s impressive track record of innovation will bolster our existing pipeline of new products,” said Jordan Bast, President and CEO of Richards. “We share the same strong commitment to exceptional customer service and responsiveness as Equilibar, and we are excited to welcome their employees to the Richards family.”

Baker & McKenzie LLP acted as legal advisor to Richards. J. Lee Lloyd, LLC and Forrest Firm served as financial and legal advisors, respectively, to Equilibar.

About Equilibar

Equilibar specializes in precision fluid control for the most challenging applications in research and industry. The company works collaboratively and creatively with scientists and engineers around the world on innovative solutions to complex problems. Its patented dome-loaded, multiple orifice back pressure regulators are able to perform in situations where traditional valves and regulators cannot and are often used in groundbreaking research and emerging technologies. Equilibar products are used in a broad range of industries, including catalysis, fuel cells, aerospace, biopharma, and green energy.  www.equilibar.com

About Richards Industrials

Richards is the parent company of seven distinct industrial product lines: Regulators and control valves from Jordan Valve®; sanitary regulators, diaphragm valves and control valves from Steriflow Valve®; 3A regulators, butterfly valves, ball valves and steam traps from Steriflow Food & Beverage; ball valves and automated products from Marwin Valve®; high pressure – extreme low flow regulators and control valves from LowFlow Valve®; instrument valves and manifolds from Hex Valve®; steam traps and steam specialty equipment from Bestobell Steam Traps®. www.richardsind.com

About Astor Place Holdings

Astor Place Holdings is the private investment arm of Select Equity Group, L.P. Astor Place deploys patient capital in partnership with exceptional management teams to drive long-term value creation in lower middle market North American companies. www.astorplaceholdings.com