DevCo to acquire industrial valve manufacturer ARMATURY Group.

DevCo Partners agreed to acquire Czechia-based industrial valve manufacturer ARMATURY Group. DevCo will create a leading European provider of valve solutions for the wider energy sector by combining Vexve, a DevCo-owned district energy valve solution provider, with ARMATURY Group. Financial terms were not disclosed. ”We feel honoured to have the opportunity to combine forces with ARMATURY, which has developed from a local valve trading business to a leading manufacturer of demanding valve solutions for the wider energy sector. We have excellent experiences from developing Vexve over the past three years, and see great potential in ARMATURY,” says Otto Kukkonen, Vice Chairman of Vexve Board of Directors and Partner at DevCo.