Severn Group announces acquisition of ValvTechnologies
The deal, which follows the strategic partnership announced in June, represents a step toward Severn Group’s vision to become a leading global severe service valve specialist in the energy and industrials sectors.
ValvTechnologies will retain its operational independence, but will benefit from a broader pool of expertise.
For Severn Group, the acquisition furthers a diversification strategy and expands its product offering.
Perttu Louhiluoto, CEO of Severn Group, said: “I have great confidence in the existing ValvTechnologies executive management team.
“Our goal is to build an offering that better serves global demand for critical-application valves and aftermarket services in the energy and industrial sectors. We are incredibly confident that this deal will accelerate the growth of ValvTechnologies and the existing Severn Group companies, while significantly elevating our offering to current and prospective customers.
“With extended capabilities including enhanced global reach, product diversity and specialist solutions, we will provide customers with unrivalled support for the operational and assurance needs of their plants.”
Chad Bowers, president at ValvTechnologies, added: “By joining Severn Group, we mark an incredibly exciting step in ValvTechnologies’ evolution. Our collective heritage in delivering engineering solutions for demanding applications will bring a strengthened offering to the market at a critical time for customers. Traditional core imperatives of safe operations and minimum downtime are increasingly coupled with a commitment to sustainability, and meeting these demands requires expert knowledge of asset life-cycle and process conditions.”