Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, which is headquarters in Texas, has announced it has entered into a conditional sale and purchase agreement to sell its Gestra AG business unit to Spirax-Sarco Engineering plc, a leading provider of steam system solutions.
In addition to the product’s core manufacturing facilities in Bremen, Germany, the sale also includes several other smaller associated businesses supporting Gestra products.
Flowserve obtained Gestra AG in 2002 as part of the acquisition of Invensys Flow Control.
The transaction is expected to be completed during the second quarter of 2017 (2Q17), subject to certain customary conditions, including regulatory approval of the transaction by the German authorities.