Flowserve Corporation, a manufacturer engineered and industrial pumps, seals and valves has completed its acquisition of SIHI Group B.V., which develops and manufactures engineered vacuum and fluid pumps. Its chief executive called SIHA “a natural fit for Flowserve.”
Both companies also offer flow-control services for infrastructure markets worldwide. Dallas-based Flowserve announced the purchase of SIHI from TBG Europe NV last November for approximately €298 million ($372.5 million.) At that time, the buyer said SIHI offered a “strong strategic fit with Flowserve’s Industrial Product Division and chemical industry focus.”
Flowserve said last fall that the SIHI organization was “consistent with Flowserve’s ongoing growth strategy to add complementary assets to our portfolio and then accelerate their growth and leverage our operating platform.”
The buyer did not confirm that final purchase price in its announcement confirming the deal.
With its engineered vacuum and fluid pumps, and after-market products and services, SIHI and its subsidiaries mainly supply the chemical industry, but also the pharmaceutical, food-and-beverage, and other process industries. It has manufacturing operations in Europe, the Americas, and Asia.
“SIHI’s existing installed base and its leading position as a supplier of vacuum and fluid pumps will complement our chemical industry strategy,” Flowserve president and CEO Mark Blinn stated.
“This acquisition provides Flowserve additional engineering and manufacturing experience and the opportunity to leverage our global platform to deliver on the combined financial synergies.”
Flowserve operates in over 50 countries and is one of the world’s largest providers of fluid motion and control products and services.