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Mueller Water Products Inc. (NYSE: MWA), Atlanta, GA, has sold its Anvil International division to One Equity Partners, a private equity firm, for $315 million. Anvil is a manufacturer of piping system components with applications in commercial, industrial, mechanical, fire protection and oil & gas end markets.
“Mueller Water Products is now a pure-play water infrastructure company that is ideally positioned to take advantage of the significant near- and long-term growth opportunities in the industry," said Gregory Hyland, president and CEO. "The remaining core business will have leadership positions in most of its markets, industry-leading operating margins, capital returns and free cash flow generation, as well as an even stronger balance sheet."
The company also named J. Scott Hall its next president and CEO, effective Jan. 23. Hall succeeds Hyland, who will transition to the role of executive chairman.
Hall joins the company from Textron, Inc. where he most recently served as president and CEO of its industrial segment.