Flowserve Corp. reports it has paid approximately $200 million for Valbart Srl, a manufacturer of trunnion-mounted ball valves (TMBVs), used primarily in the oil and gas industry. “We are very pleased with our acquisition, stated president and CEO Mark Blinn, “and have confidence that our customers will benefit from the addition of Valbart’s products to our portfolio.”
Valbart is a privately owned, Italian manufacturer of API 6A and API 6D TMBVs in split-body, all-welded, and top-entry configurations. Blinn said the company’s technology and market position in the upstream and midstream oil and gas markets, and growth potential, make it a compelling strategic fit for Flowserve.
Flowserve manufactures fluid motion and control products, including engineered and industrial pumps, seals and valves, as well as a range of related flow-management services. It said it funded the transaction with cash on hand. Other terms of the acquisition were not disclosed.
The two companies made a December 2009 joint-venture agreement to combine Valbart’s ball valve technology with Flowserve’s high-performance noise and cavitation-reducing trim designs. The joint venture has created a high-performance, trunnion-mounted control ball valve.
Tom Pajonas, president, Flowserve Flow Control division, said: “Valbart’s products fill a strategic gap in our product portfolio and significantly strengthen our ability to provide a more complete valve package to oil and gas projects. We believe that we can quickly and significantly grow Valbart through our established global sales and service network.”