Severn Group, one of Britain’s longest-established valve manufacturers, has been acquired for $480 million dollars by Valmet, a Finland-listed global industrial leader.
Contour
Holdings International, known as “Severn Group,” is the holding corporation for
Severn Glocon, ValvTechnologies and LB Bentley.
This
transition follows a global expansion strategy led by its largest investor,
Bluewater, and marks an exciting new phase in the company’s growth journey.
The global
expansion of manufacturing locations in India and USA, positions Severn as a
complementary fit within Valmet’s existing footprint.
Perttu
Louhiluoto, CEO of Severn Group, said: “We are proud to welcome Valmet as our new
owners and look forward to building on the strong foundation laid over recent
years. Thanks to Bluewater’s visionary leadership, Severn Group has grown from
a British manufacturer in the energy space into a global industrial business
with a truly international footprint. As we look ahead, the scale and breadth
of the global opportunities in front of us are greater than ever and ones we
cannot fully unlock alone. Joining Valmet positions us to accelerate our growth,
expand into new markets, and deliver even greater value to customers worldwide.
We are excited about this next phase of Severn’s journey.”
Thomas
Hinnerskov, CEO of Valmet said: “This acquisition marks a
significant step in the execution of Valmet’s Lead the Way strategy,
strengthening our Process Performance Solutions segment and expanding our Flow
Control business. Severn’s strong capabilities and proven track record in
severe service for demanding applications make it an excellent strategic fit
for Valmet. This acquisition strengthens our commitment to deliver lasting
customer value over the life-cycle. We are proud to welcome Severn’s skilled
and dedicated employees to Valmet,” says Thomas Hinnerskov, President and CEO
of Valmet.”
Under
Bluewater’s strategic guidance, Severn Group transformed from a predominantly
upstream oil and gas business (73 per cent in 2020) into a diversified global
industrial company, expanding into over 12 new sectors and quadrupling
earnings.
Tom Sikorski, Founding Partner at Bluewater, added: "We are pleased to hand Severn Group over to such a capable and global owner. Bluewater’s partnership has transformed Severn into a world-class business, and we thank everyone involved for their dedication. With the acquisition by Valmet, we think we have found Severn a sustainable and complementary home and the business is now well positioned to continue its successful journey and deliver long-term value on a global scale." -TradeArabia News Service
