# Flowserve to acquire Velan for about $245 million

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

- Type: Acquisition
- Announced: 2023-03-28
- Where: Canada
- Value: $245.0M
- Status: announced
- Products: industrial 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

- [valveuser.com](https://www.valveuser.com/4010-flowserve-to-acquire-velan.htm), 2023-03-28: "Flowserve will acquire Velan in an all cash transaction valued at approximately $245 million (C$329 million)."
- [industrialvalves.de](https://industrialvalves.de/economy-enterprise/acquisition-of-canadian-valve-manufacturer/), 2023-04-05: "We are excited about the opportunity to add Velan and its talented team to the Flowserve family."
- [valve-world-americas.com](https://valve-world-americas.com/velan-shareholders-approve-acquisition-by-flowserve/), 2023-05-08: "The resolution relating to the Arrangement was approved by 99.99% of the votes cast by all Velan shareholders."

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