Clyde Union Completes Transaction to Permanently Divest Non-Operating Subsidiaries that Hold Legacy Asbestos-Related Liabilities

09/22/26

Charlotte, N.C. – September 21, 2026 - Clyde Union (US), LLC (“Clyde Union” or the “Company”), a wholly-owned subsidiary of Celeros Flow Technology, LLC (“Celeros”) and a trusted supplier of engineered-to-order pumping technology used across a wide range of industries, today announced the completion of a permanent divestiture of certain non-operating subsidiaries, including Clyde Legacy LLC, successor to Union Pump Company, which faces legacy product liability claims arising from historic operations. These non-operating subsidiaries have been sold to Union Industries Holdings, LLC (“Union Industries”) in an equity transaction. As a result, the Company has permanently divested the legacy asbestos liabilities held by the non-operating subsidiaries and will no longer report these legacy asbestos liabilities on its balance sheet.

The transaction does not impact ongoing operations, employees, customers, vendors, or commercial relationships of Clyde Union and its operating subsidiaries. Nor does it impact ongoing or future asbestos lawsuits against Clyde Legacy LLC, which will continue to administer its alleged asbestos liabilities and related insurance assets.

“Addressing these legacy litigation matters in a thoughtful and definitive manner is a critical step forward for our organization,” said Jose Larios, CEO of Celeros. “This transaction enables the Company to remain focused on our mission of engineering, delivering, and supporting the pumping equipment essential to our customers’ operations, while ensuring these legacy matters are managed by a dedicated and experienced counterparty.”

The transaction closed on September 10, 2026.

About ClydeUnion Pumps

Drawing on a 140-year engineering legacy, ClydeUnion Pumps plays an instrumental role in securing the resources that a sustainable society relies on, serving the power, oil and gas, water, marine, and chemical processing markets. A Celeros Flow Technology brand, ClydeUnion Pumps provides a full range of engineered-to-order pumps and related equipment, together with lifecycle support from service facilities in over 40 countries.

Advisors

In connection with the transaction, Ducera Partners LLC is acting as financial advisor to the Company and Latham & Watkins LLP is acting as legal advisor to the Company.

Quarles & Brady LLP is acting as legal advisor to Union Industries.