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ST. LOUIS, July 12, 2021--(BUSINESS WIRE)--Emerson (NYSE: EMR) today announced an agreement to sell its Daniel Measurement and Control Business to Turnspire Capital Partners. Daniel’s ultrasonic flowmeter and fiscal transfer system businesses are not included in the transaction.
Daniel has been a global leader providing fiscal flow and energy measurement to the oil and gas industry for more than 85 years. This sale demonstrates Emerson’s strategic priority to focus its portfolio and management attention on data-rich, software-enabled technologies in diversified and high growth end markets.
The transaction is expected to close in Emerson’s 2021 fiscal year and includes all of Daniel’s brand rights, facilities, intellectual property and personnel. Emerson will work closely with Turnspire to ensure a smooth transition for customers and employees.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information, visit Emerson.com.
About Turnspire Capital Partners
Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire’s investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its companies best-in-class in their respective industry niches, and subsequently to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit www.turnspirecap.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include our ability to complete the embedded computing and power transaction, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
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Investor Contact: Colleen Mettler (314) 553-2197
Media Contact: Casey Murphy (314) 982-6220