Howden, a global provider of mission critical air and gas handling products, agreed to acquire Peter Brotherhood, which specialises in the design, manufacture and servicing of performance-critical steam turbines, turbo gen-sets, compressors, gear boxes and combined heat and power systems, from Avingtrans, which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, for £35m. "This well executed exit of Peter Brotherhood once again demonstrates the success of the Avingtrans PIE strategy. Peter Brotherhood was in poor shape when we acquired it in 2017, but it has been turned around to make it attractive to specialist Groups in its sectors. The result is enhanced value for Avingtrans shareholders and the potential opportunity to repeat the PIE model elsewhere," Steve McQuillan, Avingtrans CEO.