# Flowserve to acquire Velan in $245 million all-cash deal

Flowserve agreed to acquire Canadian industrial valve maker Velan in an all-cash transaction valued at about $245 million (C$329 million), including equity and assumed debt. The deal is expected to close by the end of Q2 2023.

- Type: Acquisition
- Announced: 2023-02-10
- Where: Montreal, Canada
- Value: $245.0M
- Status: announced
- Products: industrial valves, nuclear valves, cryogenic valves
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Velan](https://endata.com/companies/441.md) (target)
- [Flowserve](https://endata.com/companies/911.md) (acquirer)

## Sources

- [flowserve.com](https://www.flowserve.com/company/storiesinsights/flowserve-acquire-velan-all-cash-transaction-valued-approximately-245-million-c329-million/), 2023-02-10: "Flowserve will acquire Velan in an all cash transaction (the "Transaction") valued at approximately $245 million (C$329 million)."
- [worldpumps.com](https://www.worldpumps.com/content/news/flowserve-to-acquire-canadian-valve-maker-velan-in-us-245mn-deal), 2023-02-10: "Flowserve Corp has entered into a definitive agreement to acquire Velan Inc, the Canadian manufacturer of highly engineered industrial valves, in a US$245 million (C$329 million) cash deal."
- [businesswire.com](https://www.businesswire.com/news/home/20230210005080/en/Flowserve-to-Acquire-Velan-in-an-All-cash-Transaction-Valued-at-Approximately-%24245-million-C%24329-million), 2023-02-10: "Flowserve will acquire Velan in an all cash transaction (the "Transaction") valued at approximately $245 million (C$329 million)."
- [law360.com](https://www.law360.com/articles/1575045/valve-maker-flowserve-to-pay-245m-for-canada-s-velan), 2023-02-10: "Flowserve Corp., a Texas-based maker of industrial pumps and valves, has agreed to complete a roughly $245 million acquisition of Canadian competitor Velan Inc."
- [asianwater.com.my](https://asianwater.com.my/flowserve-to-acquire-velan-in-an-all-cash-transaction/), 2023-03-13: "Flowserve will acquire Velan in an all cash transaction (the Transaction) valued at approximately $245 million (C$329 million)"

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.