Severn Group, the global family of specialist high-end valve engineering and manufacturing companies, which includes Severn and LB Bentley, has acquired US-headquartered ValvTechnologies, a leader in the design and manufacture of metal-seated, zero-leakage isolation valve solutions for demanding applications.
The deal, which follows the strategic partnership announced in June of this year, represents a step toward Severn Group’s vision to become the 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 and resources as part of the wider Group, alongside Severn and LB Bentley.
ValvTechnologies, Severn and LB Bentley represent an exceptional strategic fit. For example, where Severn excels in upstream oil and gas, and LB Bentley provides subsea specialisms, ValvTechnologies majors in mining and power. For Severn Group, this acquisition furthers a diversification strategy that will see the family of businesses increase its international presence, widen the industries served, expand its product offering and benefit from a combined approach to delivering on site service support capabilities across all markets.
As part of this transition, Mr. Kevin Hunt, has taken the decision to step down as President of ValvTechnologies. He will be handing over his day-to-day responsibilities to the existing leadership team, with Chad Bowers, previously Director of Manufacturing at ValvTechnologies, taking the role of President.
Perttu Louhiluoto, CEO of Severn Group, comments: “I would firstly like to thank Mr. Hunt for his 30+ years of dedication to ValvTechnologies, having led the development of industry-leading products and playing an instrumental role in growing the business into the successful enterprise it is today. I have great confidence in the existing ValvTechnologies executive management team, and I am delighted to welcome Chad Bowers as he takes on the role of President.
“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, adds: “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. In joining Severn Group, this is exactly what we deliver – intimate knowledge of day-to-day operations, combined with relentless commitment to innovating severe service valve solutions for the future.”
This deal has been funded by Bluewater, the specialist international private equity firm. Bluewater originally invested in Severn Group in 2019.
Read the article online at: https://www.worldpipelines.com/business-news/06122021/severn-group-announces-acquisition-of-valvtechnologies/