SPX Flow has agreed to sell what remains of its power and energy business to private equity firm Apollo Global Management for $475 million. The businesses to be sold include SPX Flow’s Clyde Union Pumps, M&J Valve and Copes Vulcan valve business. Yearly sales total about $500 million of SPX Flow's $2 billion in annual revenue, says a company spokesman. About 2,000 of SPX Flow’s roughly 7,000 workers are employed at the divisions subject to sale. The deal is expected to close in mid-2020. “Today's…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2019/11/25/spx-flow-to-sell-remainder-of-power-and-energy.html?ana=RSS&s=article_search
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