CIRCOR International, Inc. (NYSE: CIR), a provider of valves and other highly engineered products and subsystems that control the flow of fluids safely and efficiently in the aerospace, energy and industrial markets, today announced that it has appointed Arjun “AJ” Sharma to the newly created position of Vice President, Business Development. Sharma will oversee the Company’s M&A strategy and strategic planning activities. Sharma will report to CIRCOR Chairman and Chief Executive Officer Bill Higgins.
“A key component of CIRCOR’s growth strategy is to seek synergistic, tuck-in acquisitions as well as pursue larger, complementary businesses,” said Mr. Higgins. “Adding a seasoned business development executive with a proven track record strengthens our M&A and growth capabilities. During the past five years, AJ played an integral role in completing several acquisitions and divestitures. His extensive cross-border transaction experience throughout Asia, Europe and North America will be a valuable asset for CIRCOR as we expand our global footprint.”
Prior to CIRCOR, Sharma was Managing Director with Global Equity Partners, a venture capital private fund and strategy consulting firm. At the firm, he was responsible for sourcing and executing equity investments, and leading client engagements. In this role he was retained by a Fortune 500 company to develop a growth strategy and execute acquisitions and divestitures in the industrial sector.
Before joining Global Equity Partners, Sharma was Director of Mergers and Acquisitions at Textron Inc., a $13 billion multi-industry company with a global network of aircraft, defense, industrial and finance businesses, where he was responsible for developing the company’s M&A strategy and leading acquisition and divestiture transactions. Before Textron, Sharma held a series of positions at SPX Corporation, a Fortune 500 multi-industry company that is among the twenty most acquisitive industrial, test and measurement segment corporations in the US, culminating in his appointment as Director of Corporate Development.
Sharma holds a Certificate in Corporate Restructuring and Mergers and Acquisitions from Harvard Business School, a Master of Science degree in Finance from Drexel University and a Bachelor in Commerce from Delhi University.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Reliance should not be placed on forward-looking statements because they involve both known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of CIRCOR. Any statements in this press release that are not statements of historical fact are forward-looking statements, including, but not limited to, those relating to the Company’s M&A and growth strategy as well as Arjun Sharma’s expected contributions. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About CIRCOR International, Inc. CIRCOR International, Inc. provides valves and other highly engineered products and subsystems that control the flow of fluids safely and efficiently in the aerospace, energy and industrial markets. With more than 9,000 customers in over 100 countries, CIRCOR has a diversified product portfolio with recognized, market-leading brands. CIRCOR’s strategy includes growing organically by investing in new, differentiated products; adding value to component products; and increasing the development of mission-critical subsystems. The Company also plans to leverage its strong balance sheet to acquire complementary businesses.
Frederic M. Burditt, 781-270-1200
Chief Financial Officer