Deal Details
MOGAS Is Acquired by Flowserve
Summary
MOGAS Industries, Inc. (“MOGAS” or the “Company”) announced that it has signed an agreement to be acquired by Flowserve Corporation (“Flowserve”) (NYSE: FLS) for an initial cash consideration of $290 million, plus an additional earnout of up to $15 million tied to the Company’s achievement of select financial metrics in 2024. The transaction is expected to close in Q4 2024 and is subject to regulatory approvals and customary closing conditions.
Baird served as the exclusive financial advisor to MOGAS on this transaction.
About
MOGAS is a privately-owned, leading provider of mission-critical severe service valves and associated aftermarket services for a variety of end-markets including mining, refining and power. The Company has more than 50 years experience in research, engineering and manufacture of application specific premium valves to meet customer needs. MOGAS has a global presence with established sales and service offices in Australia, China, Europe, Canada, South America, the Middle East and India. The Company operates from a 111,000 square foot manufacturing facility in Houston, Texas, where it is headquartered.Flowserve is one of the world’s leading providers of fluid motion and flow control products and services for the global infrastructure markets. Operating in more than 50 countries, Flowserve produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. Flowserve is headquartered in Irving, Texas.
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- Date
- August 2024
- Company
- MOGAS Industries, Inc.
- Transaction
- M&A - Sellside
- Sectors
-
Energy
Industrial - Verticals
-
Energy Transition Solutions
Energy
Flow, Motion and Power Technologies
- Target Geography
- North America
- Acquiror Geography
- North America
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