Saw Mill Capital has completed the $120 million acquisition of Scotland based Clyde Bergemann, a specialist in soot blowing systems and boiler cleaning solutions, by its affiliate, Saw Mill Capital Fund III and certain members of Clyde Bergemann’s senior management team. The company completed the acquisition through Global Power Solutions, a company formed by Saw Mill Capital Fund III to pursue acquisitions of manufacturing, services and technology companies in the global power industry.
New York based Saw Mill Capital has also invested a further $3.5 million in Cheng Power Systems of Mountain View, California, a provider of proprietary technologies designed to improve output, efficiency and environmental performance of power generating systems. Its patented technologies include Advanced Cheng Cycle and Cheng Advanced Combined Cycle which both use electronically controlled steam injection into gas turbines to achieve higher power output and efficiency, as well as the Cheng Low NOx system.