Flowserve acquires MOGAS Industries for $290M, expanding in mining, power, and process industries.
Flowserve Corp acquires Houston-based MOGAS Industries, a severe service valves provider, for $290m, with an additional $15m potential earnout. The deal will expand Flowserve's presence in mining, power, and process industries, aligning with its 3D growth strategy. Anticipated to be accretive to Flowserve's earnings in the first full year, MOGAS is anticipated to contribute revenues of around $200m with high teens adjusted EBITDA margins.
August 13, 2024
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