SIHI Group provides engineered vacuum and fluid pumps for chemical, pharmaceutical, food & beverage and other process industries. The group has operations across Europe, the Americas and Asia and is expecting 2014 sales of approximately €280 million with EBITDA of approximately €30 million.
“We are excited about the acquisition of SIHI, which is consistent with Flowserve’s ongoing growth strategy to add complementary assets to our portfolio and then accelerate their growth and leverage our operating platform,” said Flowserve president and CEO Mark Blinn. “The expected combination of SIHI’s solid installed base, with its leading position as a supplier of vacuum and fluid pumps, ability to enhance our chemical ISO pump strategy, engineering and manufacturing experience, strong gross margin profile, opportunity to leverage increased scale and both revenue and financial synergy potential make SIHI a natural fit for Flowserve that exceeds our disciplined financial requirements which drives solid long-term value for our shareholders.”