Flowrox sells valve and pump businesses to Neles
This article has been supplied as a media statement and is not written by Creamer Media. It may be available only for a limited time on this website.
Flowrox, a Finland-based company sold its valve and pump businesses to Neles, a listed Finnish manufacturer of industrial valves. The deal also includes the Flowrox brand. Flowrox’s industrial automation, environmental technologies and filter business are excluded from the acquisition and will continue under a new, later to be announced name and brand.
“In recent years, Flowrox’s operations have expanded in many areas through product development and acquisitions. Now it is time to focus. This business transaction will enable us to advance the remaining businesses to the next level. We see Neles as a great partner and a company who can further develop valve and pump businesses,” says Jukka Koskela, President and CEO, Flowrox.
With the transaction, approximately 50 % of Flowrox personnel will transfer to Neles. Acquisition closing is expected to take place in November 2021.
According to Neles, the acquisition will complement the company’s offering and exposure to the mining and metals industry.
“Diversification of our customer industries is a key component of Neles’ growth strategy. This acquisition is an excellent fit for Neles as Flowrox is a well-known niche player in flow control within mining and metals with the right offering and very strong competence and knowhow,” says Olli Isotalo, President and CEO of Neles. “Going forward, we plan to continue developing the transferring businesses as a platform for growing in a strategic focus industry.”
The purchase price of the valve and pump businesses is 40,9 million EUR, with additional earn-out consideration of up to 3 million EUR.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
