Dresser-Rand acquires Peter Brotherhood

Engineering company Peter Brotherhood – headquartered in Peterborough, UK – has been acquired by a subsidiary of Dresser-Rand Group Inc for £31 million (US$62 million). Five years ago, in March 2003, the management team at Peter Brotherhood Ltd, headed by managing director Stephen Fitzpatrick, acquired the business from its US parent company, Thermo Electron Corp.

Since the buy-out, Peter Brotherhood Ltd has more than tripled its then £25 million (US$50 million) turnover and has built up the workforce from 240 people to 360. The business has been consistently profitable every year, generating cash throughout that period. In the marine field, the company is most well known for its steam turbine gensets, often working in association with waste heat recovery systems.

Dresser-Rand, based in Houston, Texas, is among the largest global suppliers of custom-engineered rotating equipment for long-life, critical applications in the oil, gas, petrochemical and process industries. TST