Curtiss-Wright's Flow Control Co. Buys Gulf33 VALVE PROS for $4M in Cash

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Curtiss-Wright
CW
Flow Control Company (CWFC) announced today that it has acquired the assets of Gulf33 VALVE PROS, LLC (Gulf33) for $4 million in cash. Gulf33 is a Louisiana limited liability company that provides valve repair and maintenance services to the offshore oil and gas market. Gulf33's customers include the largest offshore platform operators in the Gulf of Mexico. This acquisition will be integrated into GROQUIP, a business unit of the Oil & Gas division of CWFC. Gulf33 and GROQUIP's Offshore Group will be consolidated into a facility in Houma, L.A. Merging the two companies will increase Curtiss-Wright's overall service offering, while improving our customers' experience. "The acquisition of Gulf33 complements our recent diversification into the upstream oil and gas market," said David C. Adams, President and CEO of Curtiss-Wright Corporation. "Furthermore, this synergy of service capabilities expands our offering to existing and new customers in these markets." Curtiss-Wright continues to expand its position in the offshore oil and gas service market by increasing our service offerings and qualifications to bid on expanded and new Master Service Agreements. The combined valve services will offer E&P customers a full array of offshore, onshore, repair and testing capabilities, with maximized utilization of technicians deployable during turnarounds.
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Posted In: NewsM&A
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