A UK-based industrial valve company is set to be acquired by Finland-listed global industrial group Valmet Corporation in a $480 million transaction. The company, Severn Group, will move from private equity ownership under Bluewater to the international industrial leader.
Severn Group operates through its holding company, Contour Holdings International Ltd, which encompasses Severn Glocon, ValvTechnologies and LB Bentley. The deal reflects the company’s successful global expansion, including new manufacturing sites in India and the USA, and positions it as a complementary addition to Valmet’s existing operations.
The company’s UK headquarters are in Gloucester, with additional offices in Halifax and Aberdeen. This acquisition is expected to enhance Severn’s capacity to access global markets and leverage the scale of Valmet’s industrial 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.”
Valmet CEO Thomas Hinnerskov added: “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.”
Under Bluewater’s guidance, Severn Group has evolved from a largely upstream oil and gas business, which accounted for 73 per cent of its operations in 2020, into a diversified global industrial company. It has expanded into more than twelve new sectors and quadrupled earnings during this period.
Tom Sikorski, founding partner at Bluewater, said: “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.”
