SPX FLOW Completes Purchase of UTG Mixing Group

Rhea-AI Summary

SPX FLOW, Inc. (NYSE: FLOW) has successfully acquired UTG Mixing Group, enhancing its portfolio of mixing and blending solutions. The acquisition, which includes brands like Stelzer, Uutechnic, and Jamix, brings additional technology and manufacturing capacity from Finland and Germany. CEO Marc Michael highlighted that this merger aligns with their growth strategy, creating synergy opportunities and expanding their sales network. SPX FLOW reported approximately $1.5 billion in annual revenues in 2019, indicating a robust operational foundation.

Positive

• Acquisition of UTG Mixing Group expected to enhance technology and manufacturing capacity.
• Expansion of sales network and customer solutions through additional product brands.

Negative

• None.

CHARLOTTE, N.C., Jan. 18, 2021 /PRNewswire/ -- SPX FLOW, Inc. (NYSE: FLOW), a leading provider of process solutions for the food, beverage and industrial markets, announced today that it has completed the acquisition of UTG Mixing Group, the maker of Stelzer, Uutechnic, and Jamix mixing solutions for the chemical, food, metallurgical and fertilizer, environmental technology, water treatment and pharmaceuticals markets.

The addition of UTG's operations, based in Finland and Germany, will add technology, manufacturing capacity and technical expertise to SPX FLOW's already robust global portfolio of mixing and blending solutions, including Lightnin, Plenty and APV.

"UTG's products, skilled team members and sales channels align well with the strategy for our mixer business. We are excited about the new growth and synergy opportunities for our combined organizations," said Marc Michael, Chief Executive Officer of SPX FLOW. "Bringing UTG Mixing Group and its well-known product brands into the SPX FLOW family strengthens the sales network of the combined company, offering customers a greater breadth of solutions for a wider range of applications."

KPMG Oy Ab and Dittmar & Andrenius advised SPX FLOW on the transaction.

About SPX FLOW, Inc.
Based in Charlotte, North Carolina, SPX FLOW, Inc. (NYSE: FLOW) innovates with customers to help feed and enhance the world by designing, delivering, and servicing high-value process solutions at the heart of growing and sustaining our diverse communities. 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 sanitary and industrial markets. SPX FLOW had approximately $1.5 billion in 2019 annual revenues and has operations in more than 30 countries and sales in more than 100 countries. To learn more about SPX FLOW, please visit www.spxflow.com.

Media Contact
Melissa Buscher
Chief Communications Officer
Melissa.Buscher@spxflow.com
704-449-9187

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

View original content:http://www.prnewswire.com/news-releases/spx-flow-completes-purchase-of-utg-mixing-group-301210016.html

SOURCE SPX FLOW, Inc.

FAQ

What is the significance of SPX FLOW's acquisition of UTG Mixing Group?

The acquisition enhances SPX FLOW's technology and manufacturing capacity, expanding their mixing solutions portfolio.

Which brands are included in the UTG Mixing Group acquisition by SPX FLOW?

The acquisition includes Stelzer, Uutechnic, and Jamix brands.

How will the acquisition impact SPX FLOW's sales network?

It will strengthen their sales network, offering customers a broader range of solutions.

When did SPX FLOW announce the acquisition of UTG Mixing Group?

SPX FLOW announced the acquisition on January 18, 2021.

What is SPX FLOW's annual revenue as of 2019?

SPX FLOW reported approximately $1.5 billion in annual revenues in 2019.