Flowserve to acquire Velan for $245m.

Flowserve, a provider of flow control products and services for the global infrastructure markets, agreed to acquire Velan, a manufacturer of industrial valves, for $245m. “We are excited about the opportunity to add Velan and its talented team to the Flowserve family. With its strong positioning in the nuclear, cryogenic, industrial and defense markets and highly complementary product portfolio, the addition of Velan furthers our Diversification, Decarbonization and Digitization strategy. The Transaction also meets our disciplined financial criteria, bringing meaningful aftermarket revenue and synergy opportunities,” Scott Rowe, Flowserve President and CEO. On October 5, 2023, Flowserve announces French Regulatory rejection of Velan acquisition.