Offshore Magazine

Weir Group acquires Novatech LLC

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GLASGOW, Scotland – The Weir Group has agreed to acquire Novatech LLC for $176 million (£113 million) in cash. Subject to US regulatory approvals, completion of the acquisition is expected in February.

Based in Dallas, Novatech manufacturers well service pump valves and valve seats for upstream oil and gas applications.

Weir CEO Keith Cochrane said: “Novatech is a respected brand in the US upstream oil and gas markets, with strong market share in the frac consumables market. This deal enables Weir to broaden our aftermarket expendable product portfolio in this fast-growing sector, where increasing operating intensities require equipment and components to be more regularly replaced and serviced.”

01/25/2012

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