We have signed a deal to divest our PMV valve positioners and switch box product line, the engineering center in Solna, Sweden, and all other associated assets. This transaction will also include divesting all Automax, Worcester, and Accord branded positioners and switchboxes. These assets are being acquired by Amberjack Capital Partners, a Houston based private equity firm focused on B2B industrial manufacturing. Products will remain marketed under the PMV Brand Name going forward. In addition to the physical assets and intellectual property, the 18 Flowserve employees at Solna will formally become Amberjack employees once the deal closes.

We are excited for this deal as it aligns with Flowserve’s CORE 80/20 principles of focusing on strategic growth areas. At the same time, it allows the MV team to continue to thrive under new ownership that is dedicated to this part of the industry. This is truly a win-win for both companies.

We expect this deal to close in Q3. Until then, it’s business as usual for Flowserve, and we will continue to manage sales and support for all PMV products and all Automax, Worcester and Accord branded positioners and switchboxes. After the transaction closes, those operations will transition to Amberjack and Flowserve will provide some specific transitional support services to Amberjack for a limited period of time after closing. We will ensure that all affected employees, customers, suppliers, and distributors are fully briefed on this change, with tailored messaging for each group.

We will make this divestiture as seamless as possible.

For any additional questions, please contact Chika Kekeocha or Juan Santopinto.

Alice DeBiasio
President, Flow Control Division