SPX FLOW Completes Acquisition of Philadelphia Mixing Solutions

Rhea-AI Summary

On May 12, 2021, SPX FLOW (NYSE: FLOW) announced the completion of its $65 million acquisition of Philadelphia Mixing Solutions from Thunder Basin Corporation. This strategic acquisition enhances SPX FLOW's portfolio in mixing solutions, positioning the company for growth in multiple sectors including chemical and pharmaceutical industries. Philadelphia Mixing Solutions, based in Palmyra, Pennsylvania, generated nearly $50 million in revenue in 2020 and boasts over 60 years of industry experience. This move aligns with SPX FLOW’s goal of expanding its innovative process solutions.

Positive

• Acquisition of Philadelphia Mixing Solutions enhances SPX FLOW's product portfolio and market presence.
• Philadelphia Mixing Solutions generated nearly $50 million in revenue in 2020, adding significant value.
• The acquisition allows for potential synergies and growth in diverse sectors.

Negative

• None.

CHARLOTTE, N.C., May 12, 2021 /PRNewswire/ -- SPX FLOW, Inc. (NYSE: FLOW), a leading provider of process solutions for the nutrition, health and industrial markets, today completed its $65 million acquisition of mixing solutions provider Philadelphia Mixing Solutions, Ltd. from Thunder Basin Corporation, an affiliate of Wind River Holdings, L.P.

The addition of Philadelphia Mixing Solutions to the SPX FLOW portfolio further bolsters SPX FLOW's position as a leading global provider of essential products and process solutions that help make the world safer, healthier, and more sustainable. The Philadelphia Mixing Solutions brand will become part of the broader SPX FLOW mixing solutions portfolio, which includes the Lightnin, APV, Plenty, Stelzer and Uutechnic brands.

Based in Palmyra, Pennsylvania, Philadelphia Mixing Solutions employs approximately 150 people and generated nearly $50 million in revenue in 2020. The company has more than six decades of experience in multi-industry mixing products and services, along with a reputation for world-class innovation, technical support, testing, analysis and field service.

"With our recent acquisitions of UTG and Philadelphia Mixing Solutions, we continue to execute our strategy of creating new opportunities for synergy and growth and broadening our portfolio of comprehensive mixing solutions for customers in the chemical, water & wastewater, petrochemical, mining, pharmaceutical, and nutrition & health markets," said Marc Michael, President and CEO of SPX FLOW. "We are excited to welcome the Philadelphia Mixing Solutions' team and their proven track record of customer focus, technical expertise, quality and on-time delivery."

PricewaterhouseCoopers Corporate Finance LLC is serving as SPX FLOW's financial advisor, and Bryan Cave Leighton Paisner LLP as legal counsel.  For Thunder Basin Corporation, Boenning & Scattergood, Inc. is serving as financial advisor and Hogan Lovells is serving as legal advisor.

About SPX FLOW, Inc.
Based in Charlotte, N.C., SPX FLOW, Inc. (NYSE: FLOW) improves the world through innovative and sustainable solutions. The company's product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer and other activities that are integral to processes performed across a wide variety of nutrition, health and industrial markets. SPX FLOW had approximately $1.4 billion in 2020 annual revenues and has operations in more than 30 countries and sales in more than 140 countries. To learn more about SPX FLOW, please visit www.spxflow.com.

About Philadelphia Mixing Solutions

Philadelphia Mixing Solutions provides innovative products, technical services and field support to customers around the world. Extensive in-house testing and analysis allows customers to visualize expected results, saving time and material costs. Backed by 65 years of industry experience and with a rich tradition of technology, the company's research and development teams use cutting edge testing and process modeling to create unique mixing solutions to meet individual customer requirements. For more information, visit www.philamixers.com.

Media Contact
Peter Smolowitz
External Communications Manager
peter.smolowitz@spxflow.com
704-341-2915

Investor Contact
Scott Gaffner
VP, Investor Relations and Strategic Insights
investor@spxflow.com 
704-752-4485

 

View original content:http://www.prnewswire.com/news-releases/spx-flow-completes-acquisition-of-philadelphia-mixing-solutions-301289878.html

SOURCE SPX FLOW, Inc.

FAQ

What is the value of SPX FLOW's acquisition of Philadelphia Mixing Solutions?

The acquisition was valued at $65 million.

When was the acquisition of Philadelphia Mixing Solutions completed?

The acquisition was completed on May 12, 2021.

What revenue did Philadelphia Mixing Solutions generate in 2020?

Philadelphia Mixing Solutions generated nearly $50 million in revenue in 2020.

What markets will benefit from the acquisition of Philadelphia Mixing Solutions?

The acquisition will benefit markets including chemical, water, wastewater, petrochemical, mining, and pharmaceuticals.

How will the acquisition impact SPX FLOW's portfolio?

The acquisition will expand SPX FLOW's comprehensive mixing solutions portfolio.