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Flowserve to acquire Lawrence Pumps

Headquartered in Lawrence, Massachusetts, USA,  Lawrence Pumps is a privately owned manufacturer of highly engineered critical service centrifugal pumps used mainly in the petrochemical and oil and gas industries.

The acquisition gives Flowserve with severe service API and chemical slurry pump technology for the refining, oil sands, polyolefin and polyethylene industries.

"We look forward to leveraging our expansive network of service centres and global sales force to expand the reach of Lawrence products and capture unrealized aftermarket potential as we continue to serve the needs of our customers," said Tom Ferguson, president, Flowserve Flow Solutions Group.

"Flowserve provides Lawrence an industry-leading global platform that will provide us the opportunity to drive future growth and the resources to develop new reliability-enhancing products," said Paul Reddick, president of Lawrence Pumps.

For 2011, Lawrence Pumps expects revenues of around US$50 million and EBITDA of about US$10 million.