Howden, a global provider of mission critical air and gas handling products and services, has completed its acquisition of Compressor Products International (CPI), a leading provider to the global reciprocating compressor market, increasing its addressable markets by $1 billion.

This marks Howden’s sixth acquisition of 2021 and is well aligned with Howden’s strategy of expanding its global aftermarket presence in the compressor market.

According to Ross Shuster, CEO of Howden: "Reciprocating compression technology is critical to the energy transition, with applications in hydrogen production and infrastructure, as well as biofuel production.

"CPI’s technology, expertise and aftermarket presence will allow us to serve customers looking to improve the performance and extend the life of their vital compressor assets across a wide range of industries."

By leveraging CPI’s strategically located service centres, Howden will expand its aftermarket services and coverage across North America and Europe.

CPI’s valves and aftermarket products are complementary and strategically important additions to Howden’s existing aftermarket compressor technology portfolio.

As part of Howden, CPI will be able to access growth opportunities through additional technology support from Howden and by leveraging Howden’s existing global distribution and services network in China, Asia Pacific and South Africa.

With CPI’s predominantly aftermarket revenues, this acquisition will be accretive to both Howden’s aftermarket mix and overall margins.

This acquisition also reinforces Howden’s role in supporting the ongoing energy transition towards renewable sources of energy.