Valmet to acquire Severn from Bluewater for $480m.

Valmet, a global developer and supplier of technologies, automation and services for the pulp, paper and energy industries, agreed to acquire Severn, an engineering company, from Bluewater, a private equity firm for $480m. "This acquisition marks a significant step in the execution of Valmet's Lead the Way strategy, strengthening our Process Performance Solutions segment and expanding our Flow Control business. Severn's strong capabilities and proven track record in severe service for demanding applications make it an excellent strategic fit for Valmet. This acquisition strengthens our commitment to deliver lasting customer value over the life cycle. We are proud to welcome Severn's skilled and dedicated employees to Valmet," Thomas Hinnerskov, Valmet President and CEO.