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BIRMINGHAM, Ala. – Motion Industries, Inc., a distributor of maintenance, repair and operation replacement parts, signed a definitive purchase agreement to acquire the operating assets of Canadian-based LSI Supply Inc. and its sister company 273 Ontario (which trades as LSI). The transaction is expected to close later this month, subject to customary closing conditions. 

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.

DUBLIN – The board of directors of intelligent power management company Eaton has named Paulo Ruiz president and chief operating officer of Eaton and a member of the board of directors, effective September 2, 2024. Ruiz will be appointed chief executive officer of Eaton on June 1, 2025. He succeeds Craig Arnold, who will retire on May 31, 2025, having reached Eaton’s mandatory officer retirement age of 65.