Flowserve Acquires Greenray Turbine Solutions

Flowserve Corporation Acquires Velan Inc. for Approximately $245M

February 10, 2023

Manufacturing

Flowserve Corporation agreed to acquire Velan Inc. in an all-cash transaction valued at approximately $245 million (C$329 million), including assumption of outstanding debt. The acquisition adds Velan's engineered industrial valve products, aftermarket opportunities and technical expertise—particularly in nuclear, cryogenic and defense markets—to Flowserve's Flow Control Division and is expected to deliver cost synergies and be accretive to adjusted EPS in the first full year after close.

EthosEnergy Acquires Turbine Services, Ltd.

May 27, 2025

Industrial Services

EthosEnergy, a global provider of services and solutions for rotating equipment, has acquired Turbine Services, Ltd. (TSL), a Saratoga Springs, New York-based manufacturer and supplier of aftermarket parts for heavy-duty gas and steam turbines. The deal augments EthosEnergy’s gas turbine product offering and secures continuity for TSL’s employees and customers.

Facility Solutions Group Acquires Greenleaf Energy Solutions

January 30, 2024

Energy

Facility Solutions Group (FSG) has acquired Greenleaf Energy Solutions, a Connecticut-based commercial solar and lighting solutions provider. The acquisition expands FSG’s renewable energy and commercial-solar capabilities, integrating Greenleaf’s team and turnkey solar services into FSG’s national lighting, electrical, and energy-efficiency platform.

Flowserve Acquires MOGAS Industries

August 13, 2024

Manufacturing

Flowserve Corporation agreed to acquire Houston-based MOGAS Industries for $290 million upfront plus up to a $15 million earnout (approximately $305 million including earnout), strengthening Flowserve’s severe-service valve portfolio and aftermarket capabilities. The deal, expected to close in 4Q 2024 (now completed per later release), roughly doubles Flowserve’s direct mining and mineral-extraction exposure and will integrate MOGAS into Flowserve’s Flow Control Division.

Howden Group Acquires Spencer Turbine

October 5, 2021

Manufacturing

Howden Group has acquired The Spencer Turbine Company, a Windsor, Connecticut-based manufacturer of vacuum systems, gas pressure boosters and industrial blowers. The acquisition expands Howden’s product capabilities in industrial and wastewater treatment markets and provides Spencer Turbine access to Howden’s global distribution network to accelerate growth in North America, China, South America and Europe.

EnergySolutions Acquires Substantially All Assets of Williams Industrial Services Group for $60M

July 24, 2023

Industrial Services

EnergySolutions agreed to acquire substantially all assets of Williams Industrial Services Group Inc. for $60 million through a Section 363 sale as part of Williams' Chapter 11 process. The deal (for Williams' nuclear, fossil, energy delivery and paper mill operations) excludes Williams' water contract operations in Florida and Texas and is intended to expand EnergySolutions' nuclear services and plant-support capabilities.