DALLAS – Flowserve Corporation, a provider of flow control products and services for the global infrastructure markets, announced today that it has signed a definitive agreement to acquire MOGAS Industries, a privately held, Houston-based provider of mission-critical severe service valves and associated aftermarket services for $290 million with a potential $15 million earnout. The Transaction is expected to close in the fourth quarter of 2024.
Matt Mogas, president and chief executive officer of MOGAS, commented, “There is no better cultural and strategic fit for our family’s 50-year-old business than joining with Flowserve, a company that shares our unwavering commitment to customers, people and products. Our employees, who are at the heart of our success, will benefit from the alignment of values and opportunities for growth within a larger organization.”