Ohio Transmission acquires Furey Filter and PSI Engineering
Ohio Transmission Corporation announced the acquisition of Furey Filter & Pump and its subsidiary, PSI Engineering.
Together, the two companies have 65 employees in Wisconsin and Minnesota.
Founded in 1956, Furey Filter & Pump, based in the Milwaukee, Wisconsin suburb of Germantown, has established itself as a premier resource for pumps, filtration, service and full-system engineering and fabrication, including certified welding capabilities. PSI Engineering, which was founded as Pumps & Supplies Inc., in 1974, was renamed after Furey Filter & Pump acquired the company in 2004. PSI, headquartered in the Minneapolis/St. Paul, Minnesota area, is an industrial equipment distributor for pumps, filters, mechanical seals and valves, and the company offers a full range of services to meet any repair of fluid-handling equipment.
“I am pleased to announce that OTC has acquired Furey Filter & Pump and their PSI Engineering division,” said Philip Derrow, president and CEO of Ohio Transmission Corp. “We are humbled to provide a great new home for the Furey and PSI associates.”
“Furey Filter & Pump and PSI Engineering have been well-respected solutions providers in their markets for several decades,” said Matt Piatt, COO and CFO of Ohio Transmission Corporation. “They have carved an excellent market position for themselves by providing exceptional customer service and superior engineering support to their customers over the years, and they have some unique capabilities to design and manufacture complete fluid-handling systems. The addition of Furey Filter & Pump and PSI Engineering to the OTC family will provide even better service and greater capabilities to all of our customers.”
The company will become a division of OTP Industrial Solutions, which provides technical sales and service for industrial automation, motion control, fluid power, pumps, spray finishing, sealant and adhesive application and power transmission systems and products. Furey Filter & Pump and PSI Engineering will continue to operate under their current names and with current management, including George Furey, president, and Jack Furey, vice president, who will both remain with the organization.
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