Flowserve Corporation (NYSE:FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that it has completed the acquisition of SIHI Group B.V., a global provider of engineered vacuum and fluid pumps and related services.
SIHI Group and its subsidiaries (“SIHI”) will strengthen Flowserve’s extensive portfolio of products and services through the addition of its engineered vacuum and fluid pumps, as well as the associated aftermarket services and parts. SIHI’s offerings primarily serve the chemical market, as well as the pharmaceutical, food & beverage and other process industries.
“We are very pleased to welcome SIHI’s employees to the Flowserve family, and add its products, services and facilities to our industry-leading portfolio,” said Mark Blinn, president and chief executive officer of Flowserve. “SIHI’s existing installed base and its leading position as a supplier of vacuum and fluid pumps will complement our chemical industry strategy. This acquisition provides Flowserve additional engineering and manufacturing experience and the opportunity to leverage our global platform to deliver on the combined financial synergies. In summary, SIHI is a natural fit for Flowserve and this transaction demonstrates our disciplined, strategic approach to inorganic growth to drive long-term shareholder value."
For additional information about Flowserve’s acquisition of SIHI, please visit the previously released transaction documents, including the November 14, 2014 press release, conference call and slide presentation, which are available in the "Investor Relations" section of www.flowserve.com.
Technical Contact: Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560 Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact: Lars Rosene, Vice President, Global Communications and Public Affairs, (972) 443-6644 Amy Allen, Manager, Global Communications and Public Affairs, (972) 443-6501