Press Release: Turnspire Capital Acquires Daniel

NEWS PROVIDED BY
Turnspire Capital Partners
Sep 01, 2021, 07:00 ET

NEW YORK,Sept. 1, 2021/PRNewswire/ — Turnspire Capital Partners LLC (“Turnspire”) announced todaythat it has completed its previously announced acquisition of the Daniel Measurement and Controlbusiness (“Daniel” or the “Company”) from Emerson Electric Co. (NYSE:EMR). Turnspire is also pleased toannounce the appointment of Keith Barnard as CEO of Daniel, eff ective immediately.

Headquartered in Houston with a state-of-the-art, strategically located manufacturing facility in Chihuahua,Mexico, Daniel is a global leader in providing fl ow and energy measurement technologies and services tothe natural gas and refi ned hydrocarbon industries. With an 85-year heritage as the preeminent supplier ofengineered solutions for fl ow measurement in custody transfer applications, Daniel is the most trustedbrand 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 fi scal & custody transfer systems business, including its ultrasonic fl owmeter business, is notincluded in the transaction.

Mr. Barnard is a proven executive with a demonstrated track record of success over twenty fi ve years in theglobal energy fl ow control instrumentation industry. He most recently served as Senior Vice President,North America Operations at Weatherford International. Mr. Barnard previously served in a variety ofexecutive positions at Forum Energy Technologies, Halliburton, Flowserve Corporation, and DresserIndustries. He has a Bachelor of Science in Electrical Engineering from Texas A&M University.

Abel S. Osorio, Partner of Turnspire, said, “Turnspire is excited to partner with Keith to establish Daniel asan independent global leader in the energy test and measurement instrumentation sector. We arecommitted to supporting Keith and the Company as we invest in R&D, pursue attractive organic growthopportunities and execute on a strong pipeline of strategic acquisition opportunities. We look forward toworking collaboratively with the entire Daniel management to solidify the business’ market leadership.”

Mr. Barnard said, “I’m thrilled to collaborate with Turnspire in this exciting next chapter for Daniel, an iconicCompany in our markets with best-in-class technology. Turnspire’s track record of manufacturingexcellence and investing in carve-outs will position Daniel for continued success over the long term. Ourmanagement team and I will work closely with Turnspire to develop and execute on a range of growth andoperational initiatives to build upon Daniel’s long and successful history.”

Chapman and Cutler LLP is acted 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, fi nancial oroperational infl ection points and stand to benefi t from our hands-on, operationally focused approach.Turnspire’s investment philosophy is predicated on creating value through operational improvementsrather than through fi nancial leverage. Turnspire strives to make each of its companies best-in-class in theirrespective industry niches, and subsequently to grow the businesses through organic initiatives orstrategic acquisitions. For additional information, please visit www.turnspirecap.com.

CONTACT:
Mark Semer
Gasthalter & Co.
(212) 257-4170
turnspire@gasthalter.com
SOURCE Turnspire Capital Partners

Related Links
https://www.turnspirecap.com/