Bessemer Investors Acquires Leonard Valve Company

A. O. Smith Acquires Leonard Valve Company from Bessemer Investors

January 8, 2026

Manufacturing

A. O. Smith Corporation completed the acquisition of Leonard Valve Company (parent LVC Holdco) from Bessemer Investors for approximately $470 million (about $412 million net of estimated tax benefits after adjustments). The deal brings Leonard Valve’s thermostatic mixing valves, digital mixing technologies and Heat-Timer boiler controls into A. O. Smith to expand its water management, digital controls and commercial/institutional product offerings.

Tencarva Machinery Company Acquires Atlantic Valve & Equipment

April 2, 2025

Industrial Services

Tencarva Machinery Company, a PE-backed industrial pump and flow-control distributor, has acquired Atlantic Valve & Equipment, a Richmond-based manufacturer's representative serving municipal and industrial water/wastewater markets across the Southeast and Mid-Atlantic. The acquisition, supported by Tencarva investor Bessemer Investors, expands Tencarva’s municipal coverage and product line card; financial terms were not disclosed.

Rotunda Capital Partners Invests in Lehman Pipe & Supply, Inc.

September 5, 2024

Logistics & Distribution

Rotunda Capital Partners has invested in Lehman Pipe and Supply, a Miami-based distributor of industrial pipe, valves and fittings (PVF), partnering with existing management to support growth and succession. The partnership will provide capital and operational support to expand Lehman's footprint across the South and Southeast U.S., pursue selective acquisitions and accelerate organic growth.

Armstrong International Acquires Leslie Controls' Industrial Control Valve and Heater Lines

October 12, 2021

Manufacturing

Armstrong International purchased Leslie Controls' industrial control valve and steam water heater product lines (excluding the U.S. Military Marine market) in Q3 2021. The acquisition expands Armstrong's thermal product offering and customer base in power and process markets while retaining Leslie sales leadership and engineering support.

Bessemer Investors Acquires Legacy Restoration

August 9, 2021

Construction

Bessemer Investors, a New York-based investment firm, has acquired Legacy Restoration, a Plymouth, Minnesota-headquartered provider of exterior restoration and remodeling services. The deal provides liquidity to selling shareholders and growth capital to support Legacy's organic expansion and M&A strategy while founder and CEO Scott Mullins and management remain in place; financial terms were not disclosed.

Severn Group Acquires ValvTechnologies

November 6, 2021

Manufacturing

Severn Group has acquired ValvTechnologies, a Houston-based leader in metal-seated, zero-leakage isolation valves, expanding the group's severe-service valve capabilities and aftermarket services. The deal was funded by private equity firm Bluewater (which invested in Severn Group in 2019) and is intended to broaden Severn's international presence and end-market coverage while ValvTechnologies retains operational independence.