Flowserve Corporation Acquires Vacuum and Fluid Pump Supplier
Flowserve Corporation has entered into an agreement with TBG Europe N.V., in which Flowserve offers to acquire TBG’s portfolio company SIHI Group B.V. for a consideration of approximately €298 million, marks another successful transatlantic deal for Baird Global Investment Banking. Baird served as the exclusive financial advisor to TBG on the transaction, which marks the firm’s 11th transatlantic deal for 2014.
Itzehoe (Germany) based SIHI is a leading provider of vacuum and fluid pumps and related engineered solutions serving the chemical, pharmaceutical, food & beverage and other process manufacturing industries. Flowserve is a leading manufacturer and supplier of pumps, valves, seals, automation, and services to the power, oil, gas, chemical and other industries.
The Baird deal team was led by senior investment bankers Nick Sealy and Michael Wolff.
In 2014, Baird has announced or closed several other transatlantic M&A deals, including:
- Melrose Industries PLC’s acquisition of Eclipse, Inc.
- Atwood Mobile Products LLC’s sale to Dometic Group AB
- Industrial Distribution Group, Inc.’s sale to Sonepar Group
- Ecova Inc.’s sale to Cofely USA, Inc.
- ICON plc’s acquisition of Aptiv Solutions, Inc.
- High Street Partners’ merger with Nair & Co
- GOJO Industries, Inc.’s investment in Laboratoires Prodene Klint
- Maxxam Analytics acquisition by Bureau Veritas SA
- Stream AS’ sale to MRC Global Inc.
- IMI plc’s (LSE: IMI) sale of its Beverage Dispense and Merchandising divisions to The Marmon Group, a Berkshire Hathaway company
