Based Flowserve Completes $305M Acquisition of Houston's MOGAS Industries » Dallas Innovates
Irving-based flow control products and services provider Flowserve Corp. has completed the acquisition of Houston-based MOGAS Industries, in a move Flowserve said will strengthen its presence in mission-critical severe service valves and associated aftermarket services.
As disclosed previously, Flowserve said it used cash to fund the transaction's purchase price of roughly $305 million, including the potential earnout.
"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," CEO and President Scott Rowe said in a statement. "This acquisition accelerates growth under our 3D strategy and enhances our valve aftermarket business with MOGAS' large installed base."
Flowserve said it will fully integrate MOGAS into its Flow Control Division segment.
Operating in more than 50 countries, Flowserve is one of the world's top providers of fluid motion and control products and services. The company produces engineered and industrial pumps, seals, and valves as well as a range of related flow management services.
