Aqua Care Systems Inc., a Florida company that makes water filtration and purification systems, has bought the Filtration Systems Division of the former Duriron Co. in Angola for $5 million.
The Angola plant, which employs about 100 people at 9542 Hardpan Road, makes filtration equipment and metering pumps that are used at water and wastewater treatment plants. All of the plant's workers have stayed on under the new owners, a company spokeswoman said Thursday.
Aqua Care said it bought the Angola business, which had more than $14.7 million in sales last year, because its products complemented its own line of products for the wastewater treatment and water filtration and purification markets.
Executives at Duriron, which changed its name to Flowserve Corp. on Thursday following its merger with BW/IP Inc., said the company sold the Angola operation last month because it was just a small part of its overall business.
Flowserve officials also said the Angola plant did not fit in with its strategic plan to focus on its fluid handling businesses that serve the chemical processing industry.
Under the terms of the deal, Flowserve also received warrants to purchase Aqua Care stock, while Aqua Care assumed up to $1.78 million of the Filtration Systems Division's obligations, according to a filing with the Securities and Exchange Commission.
Aqua Care, which is based in Coral Springs, also has named Clement L. O'Donnell president and general manager of the Filtration Systems Division. O'Donnell also is being charged with the task of combining the Angola plant and its other wastewater treatment businesses, including EnviroSystems Supply Inc., Gravity Flow Systems Inc. and SernaTech, into a single operating group.
Aqua Care, which lost $800,000 on $16 million in sales last year, earned $10,226 during the first quarter, even though its sales fell by 9 percent to $3.6 million during the first three months of this year.