Flowserve Closes $305MM Acquisition of MOGAS Industries
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
305MM
Description
Infrastructure service company Flowserve Corp. has completed its acquisition of MOGAS Industries for $305 million.
The purchase price of the deal, announced in August, includes a potential earnout of $15 million tied to minimum levels of EBITDA for the calendar year ending Dec. 31, 2024. Flowserve paid a base price of $290 million for MOGAS.
Flowserve said the transaction helps strengthen Flowserve’s presence in mission-critical severe service valves and associated aftermarket services.