Flowserve Acquires Valbart Srl For US$200 Million (€156 Million)
Flowserve Corp. has acquired Valbart Srl, a privately owned Italian manufacturer of trunnion-mounted ball valves, which are used in the oil and gas industry.
Flowserve bought Valbart for about US$200 million (€156 million) in a cash transaction. The value includes US$32 million (€25 million) of existing Valbart net debt that was repaid at closing.
Flowserve and Valbart previously formed a joint agreement in December 2009, with the intention of combining Valbart’s ball valve technology with Flowserve’s nose and cavitation-reducing trim designs. This joint venture created a trunnion-mounted control ball valve designed to deliver high performance, according to Flowserve.
For more information: www.flowserve.com