Germany-based Siemens buys Turblex

Mace sold his half of Turblex Inc. on Sept. 28 to Germany-based Siemens AG for an undisclosed price, paving the way for Mace’s retirement.

“I’m getting ready to pack it in,” said Mace, a 65-year-old businessman who will continue to serve as Turblex president and CEO through September, when he’ll move to Nevada.

Negotiations with Siemens lasted several months, Mace said, but the deal stems from a corporate transaction last November. That’s when Siemens bought the first half of Turblex.

Overseas acquisitions

Turblex is a Springfield-based, 115-employee operation that manufactures aeration blowers for waste-water treatment facilities and compressors for removing sulfur from flue gas for coal-fired power plants.

Mace established Turblex in 1989 in a partnership with Denmark-based compressor company HV-Turbo, which held 51 percent ownership in Turblex. HV-Turbo was later acquired by Germany-based AG Kühnle, Kopp & Kausch.

In November, Siemens purchased AG Kühnle, Kopp & Kausch and the majority ownership in Turblex.

Mace held the remaining 49 percent ownership in Turblex, but he was eyeing retirement.

When Siemens bought HV-Turbo/AG Kühnle, Kopp & Kausch last year, Mace recognized the opportunity to sell his stake.

“Siemens wanted 100 percent control (of Turblex), so it was a good deal for both of us,” he said.

Organic growth

Siemens plans to expand Turblex, and it has the means to do so.

Siemens is a Germany-based, publicly traded (NYSE: SI) electronics and electrical engineering corporation with 450,000 employees worldwide and sales of $130 billion.

Turblex has already been growing, however. Turblex reported revenues of $45.2 million in 2005 when it ranked No. 2 among Springfield Business Journal’s 2006 Dynamic Dozen, the fastest-growing companies in southwest Missouri. Turblex had increased its revenues from $22.4 million in 2003.

Mace wouldn’t disclose current revenues, but he said they have continued to increase since 2005, when the company had about 75 employees.

Siemens spokeswoman Monika Wood said Turblex is operating under Siemens’ Turbomachinery Equipment A/S, which is part of Siemens’ Oil, Gas & Industrial Applications Division.

Wood said Siemens plans to expand the Springfield plant, which will continue to operate under the Turblex name for the near-term, though a long-term strategy has not been established. Mace said Siemens plans to vacate the current 45,000-square-foot facility at 1635 W. Walnut St. and build a larger Springfield-area facility, though details have not been determined.

Siemens already had 12 locations and more than 350 employees in Missouri, including a small sales office for its Energy & Automation Division at 2925 E. Chestnut Expressway, Wood said. However, this is Siemens’ first large-scale involvement in Springfield.

“They’re as good as it gets,” Mace said. “They’re a wonderful corporation, and they will be a great asset to the Springfield business climate.”