Based in
High Value Add Technology
P3 has a strong intellectual property portfolio including the patented Multi-Channel Diffuser ('MCD') and Self-Contained Actuating Magnetic Pump ('SCAMP'). These products provide a product family platform that can be leveraged across many applications and industries.
The MCD is revolutionary diffuser technology that improves the efficiency of pumps and compressors by increasing pressure recovery up to 20% and measurably increasing operating range. The MCD can be used in new designs or retrofit applications and can work with any pump or compressor that utilizes a centrifugal impeller.
SCAMP is a family of positive displacement pumps for low flow, high pressure cryogenic applications compatible with oxygen, hydrogen, methane and nitrogen.
P3 also has developed a family of turbopumps ranging in thrust from 5 thousand to 200 thousand pounds. The turbopumps are designed using state-of-the-art flow path design enabled by additive manufacturing to provide higher performance at competitive prices.
In addition, P3 has created robust turbomachinery development tools which enable efficient design iteration cycles reducing lead times to product launches for customers.
Solid Financial Performance; Transaction Terms
P3's annual revenue is expected to be approximately
A stock and cash transaction, P3 was acquired from its sole owner who, along with P3's leadership team, will remain with the Company. The acquisition price has not been disclosed at this time. However, the stock element of the purchase price is valued at
Accompanying Slides
Graham has posted slides that accompany this release on its investor relations website.
About
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. The Graham Manufacturing and Barber-Nichols' global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company's products and systems.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as 'anticipated,' 'believe,' 'can,' 'expects,' 'goal,' 'potential,' 'should,' 'may', 'will,' and other similar words. All statements addressing operating performance, events, or developments that
Should one or more of these risks or uncertainties materialize or should any of
Key Performance Indicators
Management uses backlog as one of its key performance metrics to analyze and measure the Company's financial performance and results of operations. Management uses backlog as a measure of current and future business and financial performance, and it may not be comparable with measures provided by other companies. Backlog is defined as the total dollar value of net orders received for which revenue has not yet been recognized. Management believes tracking backlog is useful as it often times is a leading indicator of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer.
Given that backlog is an operational measures and that the Company's methodology for calculating backlog does not meet the definition of a non-GAAP measure, as that term is defined by the
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