Flowserve Closes $305 Million Acquisition of MOGAS Industries
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Flowserve Corporation has completed the acquisition of MOGAS Industries. This transaction helps strengthen Flowserve’s presence in mission-critical severe service valves and associated aftermarket services.
“We welcome the MOGAS team to Flowserve and look forward to leveraging our industry-leading scale to expand the MOGAS severe service portfolio and aftermarket services to customers around the world,” said Scott Rowe, president and CEO of Flowserve.
“This acquisition accelerates growth under our 3D strategy and enhances our valve aftermarket business with MOGAS’ large installed base,” added Rowe.
Flowserve intends to fully integrate MOGAS into its flow control division segment.
Flowserve used cash to fund the transaction’s purchase price of approximately $305 million including the potential earnout.
Flowserve is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 50 countries, Flowserve produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.
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