Weir completes sale of Flow Control division to First Reserve

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The Weir Group plc has finalised the sale of its Flow Control division to private equity investment firm First Reserve.

The sale, for an enterprise value of £275 million subject to customary working capital and debt-like adjustments, was announced earlier this year.

Weir Flow Control, which is now Trillium Flow Technologies, specialises in highly engineered valves, pumps and controls for the global power generation, downstream oil & gas and industrial sectors.

Trillium Flow Technologies will consist of the same 15 pump and valve brands including Gabbioneta, WSP, WEMCO, Roto-Jet, Floway and Begemann pumps and Sarasin-RSBD, Blakeborough, Atwood & Morrill, Hopkinsons, SEBIM, BDK, Batley Valve, AutoTork and Tricentric valves.

The Trillium business will continue to be led by David Paradis, as president and chief executive officer, and his management team.

“The sale of the Flow Control division marks an important step in successfully delivering our strategy,” said Weir Group CEO Jon Stanton. “It means Weir is now a more focused business with strong positions in premium upstream mining and oil and gas markets around the world. On behalf of everyone at Weir I would like to thank David Paradis and the Flow Control team for their longstanding contribution to the Group and we wish them every success in the future.”