Susequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

     On October 4, 2011, we entered into an agreement to acquire for inclusion in EPD, Lawrence Pumps, Inc. (“LPI”), a privately-owned, U.S.-based company specializing in the design, development and manufacture of engineered centrifugal slurry pumps for critical services within the petroleum refining, petrochemical, pulp and paper and energy markets. LPI generated approximately $44 million in sales (unaudited) and EBITDA of approximately $8 million (unaudited) during its fiscal year ended December 31, 2010. The acquisition is expected to close in late October 2011 and is subject to customary closing conditions. Upon closing, 100% of LPI’s outstanding equity will be acquired in a cash transaction valued at approximately $89 million, subject to final adjustments. We intend to fund the transaction with cash on hand.