Flowserve Corporation (NYSE:FLS) announced a definitive agreement to acquire Houston-based MOGAS Industries, a provider of severe service valves, for $290 million with a potential $15 million earnout. Founded in 1973 by V. Louis Mogas, MOGAS is a manufacturer of severe service isolation valves for industries like mining and power, with a global presence that complements Flowserve’s markets. MOGAS’ specialized valve products will enhance Flowserve’s installed base and aftermarket opportunities. After the acquisition, MOGAS will integrate into Flowserve’s Flow Control Division, strengthening its…
