To reduce debt ahead of a planned split, Keurig Dr Pepper has sold an $800 million equity stake in Chobani back to the yogurt manufacturer. Elsewhere, OTC Industrial Technologies acquired Global Energy Solutions to expand OTC’s rotating equipment business. In this edition of It’s Just Business, we’ve rounded up recent acquisitions and partnerships in the manufacturing space. 

Acquisition: OTC Industrial Technologies, an industrial equipment services and distribution company serving manufacturing, has acquired Global Energy Solutions (GES), a rotating equipment sales, service and repair provider. The acquisition expands OTC’s rotating equipment service and repair capabilities and adds GES facilities in Oklahoma City, Ok., and Fort Smith, Ark., including medium-voltage electric motor and pump repair and 24/7 field service.

“This partnership brings expanded resources, enhanced operational capabilities, and strategic alignment that will allow us to continue delivering exceptional service to our customers,” said Garrett and Kristi Campbell, founders of Global Energy Solutions, in a September press release. 

Acquisition: Ferguson has agreed to acquire FloWorks for approximately $1.6 billion, adding a distributor and service provider of highly technical valves and flow control solutions to Ferguson’s non-residential business. FloWorks generated approximately $1 billion in 2025 revenue and serves technical industries including chemicals, refining, power generation, semiconductors, pharmaceuticals and data centers through more than 60 locations in the United States and Canada.

“FloWorks strengthens our leading position in high-growth industrial end markets, while adding meaningful capabilities and geographic coverage which we can leverage across our non-residential customer groups,” said Kevin Murphy, CEO of Ferguson, in a July press release. 

Acquisition: Trimlite, a value-added distributor of residential doors and related door products, has acquired KW Building Products, a wholesale distributor of residential doors, windows and related building products serving the Mid-South and Central United States. The acquisition expands Trimlite’s product offering and geographic reach, with KW operating locations in Lexington, Ky., and Indianapolis, Ind. and providing door hanging and other value-added services. 

“Trimlite shares our commitment to customers, employees, and operational excellence, making Trimlite the right partner for KW,” said Tim Hicks, president of KW, in a July press release.

Acquisition: Bull Moose Tube Company, a manufacturer of steel pipe and tubing, completed its acquisition of Hanna Steel Corporation on Sept. 1. Hanna produces structural and mechanical steel tubing, operates tubing facilities in Alabama and Illinois and has a coil-coating facility in Alabama. Hannah will operate as a division of Bull Moose Tube. 

Partnership: Keurig Dr Pepper and Chobani have agreed to transactions under which KDP will sell its $800 million equity stake in Chobani back to the company. At the same time, Chobani will acquire KDP’s Allentown, Pa., manufacturing facility and warehouse for approximately $125 million. The companies will continue a co-manufacturing arrangement and expand their distribution relationship for Chobani-owned beverages and La Colombe coffee products. Chobani will extend offers of continued employment to the site’s manufacturing and warehouse employees. 

The transaction is intended to reduce debt ahead of KDP’s planned split into two companies, Beverage Co. and Global Coffee Co.

“With this deal, the plant will be used to its full potential, create value and opportunity for both companies, and bring some of our best innovation to more people through KDP’s reach and capabilities,” said Hamdi Ulukaya, founder and CEO of Chobani, in a September press release. “And most importantly, it means more jobs and more opportunity for Pennsylvania farmers.”