Graham, a company that designs and builds vacuum and heat transfer equipment for process industries, completed the acquisition of Barber-Nichols, a supplier of electronics enhanced turbomachines and turbomachine based subsystems, for $70m. “We are excited to announce the acquisition of BNI which is transformative for Graham and immediately amplifies our financial performance. It significantly increases our sales and earnings, accelerates our diversification into the less-cyclical defense sector, and provides a platform for strong growth with a broader range of engineered solutions. This combination positions Graham for higher, more stable growth as well as an improving margin profile with room for expansion," James R. Lines, Graham CEO.