Middle market private equity firm One Equity Partners (OEP) is to acquire TechnipFMC’s Measurement Solutions business, a provider of liquid meters, integrated load management metering systems and related digital solutions involved in materials transfer through infrastructure, from TechnipFMC.
The business offers a broad range of metering products including positive displacement, turbine, ultrasonic and Coriolis meters used in custody transfer applications. It also offers packaged flow measurement and fully automated systems as well as digital solutions related to capturing physical material and fiscal data from within interconnected infrastructure.
The business comprises three units: Metering Products; Metering Systems; and Terminal Management, and it services a longstanding blue-chip client base with customers across North America, Europe and beyond. Employing approximately 450 people, thus business operates six facilities, including manufacturing locations in Erie, PA, and Ellerbek, Germany.
Upon completion of the transaction, the Business will represent the addition of another corporate carve-out transaction to One Equity’s portfolio.
One Equity Partners has completed twenty-one similar transactions across its latest three funds, including eleven which operate in industrial focused end-markets. One Equity has built a reputation as a reliable partner and trusted business steward among corporate sellers seeking to divest their operations.
The transaction is expected to close in the first half of 2024 and is subject to customary closing conditions.