First Reserve-Backed Trillium Flow Technologies to Sell Trillium Pumps US to Crane Company
Crane Company is paying approximately $240 million, about 14.6 times estimated 2026 adjusted EBITDA, for Trillium's U.S. water pump business.
STAMFORD, Connecticut, September 14, 2026. Trillium Flow Technologies, a portfolio company of First Reserve, announced a definitive agreement to sell its U.S. pumps business to Crane Company. The buyer is paying approximately $240 million for Trillium Pumps US. That price represents a multiple of roughly 14.6 times the unit's estimated 2026 adjusted EBITDA.
Trillium Pumps US serves municipal water and wastewater markets through its Floway, Wemco, Roto-Jet and WSP brands. The business provides engineered pumping solutions backed by a large installed base. Recurring service, repair, retrofit and replacement demand supports it. It expects full-year revenue of approximately $115 million.
"TPU has built a robust business and market position through its deep customer relationships, a continued focus on operational excellence, and the commitment of its people," said Doug Kitani, chief executive officer of Trillium Flow Technologies. "We are proud of what the team has accomplished and believe Crane is well-positioned to support TPU in its next phase of growth."
"The progress TPU has achieved is a direct reflection of the talent and expertise of our team," said Bryan Voytilla, president of Trillium Pumps US. "Together, we have advanced the business, improved performance and delivered consistently for our customers. We are proud of what we have built and look forward to the opportunities ahead alongside Crane."
"TPU's performance and market position reflect the strength of the business and the work accomplished through our partnership with the Trillium management team," said Jeff Quake, managing partner at First Reserve. "We are proud of the progress achieved at TPU and believe this transaction positions the business well for continued success with Crane."
The deal is expected to close later this year, subject to customary closing conditions and regulatory approvals. J.P. Morgan Securities is serving as financial advisor to Trillium and First Reserve. Freshfields is serving as legal advisor. First Reserve is a private equity firm founded in 1983. It has raised more than $35 billion of aggregate capital since inception.