Flowserve Corporation (Flowserve), a provider of flow control products and services for the global infrastructure markets has signed a definitive agreement (the Agreement) to acquire MOGAS Industries (MOGAS), a privately held, Houston-based provider of mission-critical severe service valves and associated aftermarket services for USD 290M with a potential USD 15M earnout (the Transaction). The Transaction is expected to close in the fourth quarter of 2024.
MOGAS’ differentiated valve products are expected to enhance Flowserve’s installed base, creating meaningful aftermarket opportunities. Upon completion of the Transaction, MOGAS will be integrated into Flowserve’s Flow Control Division (FCD) segment, building upon Flowserve’s comprehensive valve and automation portfolio with the addition of MOGAS’ strong brand, heritage, and technical expertise in diverse and attractive end markets. Flowserve anticipates customers of both companies will significantly benefit from the newly combined product portfolios in the growing mining industry.
