Acquisition expands range
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Furmanite has acquired Flowserve’s General Services Group (GSG), a leading provider of industrial flow management services. Furmanite acquired the assets, including certain working capital, for approximately $16 million in cash.
GSG is a single-source provider of maintenance, repair and distribution services for a broad array of valves, piping systems and other process system components.
Furmanite said the acquisition allows it to offer a broader range of maintenance, repair and refurbishment services and technologies to the oil and gas, power, chemical and other industries worldwide. These include leak sealing, hot tapping, on-site machining, and valve service and repair to minimise downtime.
“We can offer customers a wider range of services and increased depth of experience in a number of niche areas,” Furmanite Worldwide President and CEO Jeff Chick said.
Posted by Editor Offshore Arabia Magazine
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