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Gates company grows again with 4th acquisition

Rochester Business Journal
January 24, 2014

Corrosion Products & Equipment Inc. has acquired the assets of VibraNostics LLC, making its fourth acquisition in eight years, and officials say it will help the company achieve its expected 12 percent growth this year.

The equipment provider did not disclose the cost of the acquisition, which had been developing for roughly five months.

“VibraNostics was kind of the missing piece of the equation for us,” said Peter Tortorella, senior vice president of CPE. “(A) consulting piece around vibration analysis (and) acoustical analysis was missing from our portfolio of offerings.”

CPE provides process equipment, pumps, sealing devices and environmental controls, non-metallic piping, equipment repair, installation and mechanical services. Its customers include manufacturers, power generation facilities, refineries and chemical and pharmaceutical companies. It also serves the food and beverage industry, technology companies, municipalities, universities and hospitals.

VibraNostics is a vibrational, seismic and harmonic analysis company in Rochester that has served Upstate New York for 21 years. The company’s founder and president, Robert Simpson, will remain as a consultant to CPE through 2014.

Simpson views the sale of his company as a move that makes sense, an “easy fit for customers.” He expects the assets of VibraNostics to allow CPE to “broaden their customer base with diagnostics services,” enhancing its current equipment monitoring services.

Acquiring the equipment-monitoring company allows CPE to expand its offerings, ranging from supply and installation to continual equipment monitoring. It also increases the amount of data and consulting support for customers looking to prevent the failure of their equipment.

“It always costs more to perform maintenance in an unplanned or emergency situation,” Tortorella said. “You’re just trying to get the equipment back up and running, and money at that point kind of becomes (irrelevant), and that’s not good.

“The critical thing for us is that we want to be the people our customers can call to provide the best products, to provide the installation and maintenance services, and having VibraNostics in our offering allows us to close the loop.”

CPE has 61 employees, VibraNostics one.

“We’re collecting the data, but we also have the capabilities now to put boots on the ground because we have technicians, engineers and the infrastructure (where) we can go into the customer and say, ‘This is what we recommend that you do to enhance the life of that equipment,’” said Robert Tortorella, president of Corrosion Products & Equipment.

CPE has grown strategically since 1988, when Robert Tortorella founded the company.

In 2006, the company acquired Caribbean Mechanical Sealing Inc., a distributorship in Puerto Rico, and in 2008 it acquired Plastics Etc. Inc., an industrial distributor of corrosion-resistant fluid-handling products based in Haverhill, Mass. In 2012, CPE added Gehring Pumps Inc. to improve its offering of pumps and process equipment.

Corrosion Products & Equipment has its headquarters in Gates with additional facilities in Albany and the Caribbean.

The company expects to make two additional acquisitions before year’s end, which would align with its aggressive growth strategy, officials said.

“I think our hope is that in 2014 we can close these (acquisitions) and then take the next two or three years to really get those businesses integrated, really change the footprint of our overall operation,” said Peter Tortorella. “We realize we need to grow on all fronts. Growth is going to be important especially within the economic challenges that we face here in New York and the Northeast.”

1/24/14 (c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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