Strategic Expansion in Severe Service Flow Control for Mining, Mineral Extraction, and Process Industries
Flowserve, a global leader in flow control solutions, has announced its acquisition of MOGAS Industries, a Houston-based manufacturer specializing in severe service valves. The deal, valued at $290 million with an additional $15 million earnout potential, is set to finalize in the fourth quarter of 2024.
Established in 1973 by V. Louis Mogas, MOGAS began as a small machine shop and has grown into a prominent supplier of isolation valves for demanding industries such as mining and power. With a state-of-the-art facility in Houston and an expansive global presence, MOGAS’s operations align perfectly with Flowserve’s market reach.
The acquisition of MOGAS not only enhances Flowserve’s product portfolio but also significantly increases its installed base, creating substantial opportunities in the aftermarket sector. Upon closing, MOGAS will integrate into Flowserve’s Flow Control Division, leveraging its robust brand and technical expertise to serve a wider range of industries.
Scott Rowe, Flowserve’s President and CEO, emphasized the strategic fit of MOGAS, stating, “This acquisition strengthens our position in severe service flow control and significantly boosts our presence in the mining and mineral extraction sectors. We’re excited to welcome MOGAS to the Flowserve family.”
MOGAS’s President and CEO, Matt Mogas, expressed confidence in the merger, highlighting the shared values and growth opportunities it brings for their employees and customers.