Flowserve completes acquisition of MOGAS Industries
- Enhances Flowserve’s severe service portfolio targeting key growth sectors in process industries, mining and mineral extraction
- Demonstrates company’s commitment to value-creating, inorganic growth through a disciplined capital allocation approach
Flowserve Corp., a leading provider of flow control products and services for the global infrastructure markets, 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.”
Flowserve intends to fully integrate MOGAS into its Flow Control Division segment.
As previously disclosed, Flowserve used cash to fund the transaction’s purchase price of approximately $305 MM including the potential earnout.
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