Flowserve Corporation (Flowserve), a provider of flow control products and services for the global infrastructure markets, announced recently that it has acquired U.K.-based Greenray Turbine Solutions, Ltd. (Greenray), a comprehensive provider of aftermarket products and services for industrial gas turbines. Through this acquisition, Flowserve gains access to deep product expertise and durable revenue for a large installed base of mission-critical equipment, with the ability to leverage Flowserve’s expansive global network of Quick Response Centers (QRCs) for growth.
“Greenray has built a strong reputation for credibility and innovation in servicing gas turbines,” said Lamar Duhon, President, Flowserve Pumps Division. “Adding their unique capabilities to Flowserve gives us access to products that are complementary to our rotating equipment portfolio and critically important to power generation end markets across the globe.”
The acquisition, which was completed for a total of approximately USD 72M in cash, is expected to add approximately USD 25M of revenue annually.