Announced
Financials
Sources
Tags
Pending
Majority
Acquisition
Oil Refining and Marketing
Friendly
United States
Specialty Chemicals
lubrication management
Single Bidder
Private
Synopsis
RelaDyne, which offers petroleum products and value-added services, agreed to acquire CIRCOR's Reliability Services Division, specifically lubrication management and chemical cleaning solutions, for $85m. “This transaction is in line with our strategy to focus on CIRCOR’s core mission-critical flow control platform and underscores our commitment to strengthening our balance sheet. We continue to evaluate the sale of other non-core businesses to further accelerate the reduction of our outstanding debt.” Scott Buckhout, CIRCOR President and Chief Executive Officer.
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