 |
Lock in savings now before June 1 rate increase! |
 |
"Valbart's premium technology, key position in the upstream and midstream oil and gas markets and demonstrated growth potential make it a compelling strategic fit for our organization," says Mark Blinn, Flowserve president and CEO.
| We
Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
Valbart was acquired in a cash transaction valued at $200 million,including $32 million of existing Valbart net debt that was repaid at closing. Flowserve funded the transaction proceeds with cash on hand. Other terms of the acquisition have not been disclosed.
Valbart, formed in 2003 and headquartered in Mezzago, Italy, specializes in the design, development and manufacture of a comprehensive range of API 6A and API 6D TMBVs in split-body, all-welded and top-entry configurations, which are predominantly used in upstream and midstream oil and gas applications.
For its fiscal year ended May 31, 2010, Valbart reported sales of $104 million and operating income of $22 million on an unaudited basis.
"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," said Tom Pajonas, president, Flowserve Flow Control Division.
Flowserve previously entered into a joint venture agreement with Valbart in December 2009 focused on combining Valbart's ball valve technology with Flowserve's high performance noise and cavitation-reducing trim designs. The joint venture has since created a trunnion-mounted control ball valve that is designed to deliver high performance.
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment