Vallourec in exclusive negotiations to sell Serimax for €79 million
Published by Elizabeth Corner,
Senior Editor
World Pipelines,
Vallourec, a world leader in premium seamless tubular solutions, announces today that it has entered into exclusive negotiations with Aldebaran, a French investment company, for the sale of Serimax, Vallourec’s subsidiary specialising in mechanised welding solutions, for an enterprise value of €79 million, of which €7 million will be paid via an earn-out. The completion of the sale is expected in the next few months, subject to consultation of the employee representative bodies and satisfaction of customary conditions precedent, including obtaining the necessary regulatory approvals.
This transaction is part of the New Vallourec’s initiatives to rationalise its invested capital and focus the Group on its core business as a premium seamless tubular solutions provider.
As part of the New Vallourec plan, Serimax has undergone a rapid transformation and is now operating profitably as a standalone company. Serimax generated approximately €105 million of revenues in 2024.
Aldebaran will enable Serimax – a global leading provider of mechanised orbital welding solutions – to focus on its ambitious development.
Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer commented: “The New Vallourec plan has enabled Serimax to improve its operations and now to find, with Aldebaran, a new shareholder to support its future development in markets in which Vallourec does not operate. I would like to thank the Serimax team for the successful transformation. With this divestment, Vallourec continues its process of streamlining invested capital and focusing on its premium seamless tubular solutions.”
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Read the article online at: https://www.worldpipelines.com/business-news/14042025/vallourec-in-exclusive-negotiations-to-sell-serimax-for-79-million/
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