UK: Severn Glocon Acquires LB Bentley
Valve engineering specialist Severn Glocon Group announced that it has acquired LB Bentley Ltd for an undisclosed sum as it seeks to diversify its offering and make inroads to the subsea market.
LB Bentley designs and manufactures small bore subsea valves for the global oil and gas industry, as well as high-pressure filters and desiccant dryers – also for a worldwide market. The firm’s core business is in patented valves – including rotary gate valves – for Christmas tree and Wellhead applications. It has expected sales of £22m in fiscal 2012.
In the friendly deal, Severn Glocon Group acquires all Intellectual Property Rights, the firm’s 154 employees and its 60,000 square foot facility in Stroud, Gloucestershire. The company will operate as a standalone division within Severn Glocon Group, with Director Bernard Bentley continuing to lead his management team.
Severn Glocon Group’s Chief Executive, Maurice Critchley, believes there is a synergy between the two businesses and that the acquisition will bring mutual benefits.
“In 40 years of trading, LB Bentley has built an enviable reputation for the quality and integrity of its products,” Critchley explains. “The business has a good fit with Severn Glocon Group and our intelligence-led engineering ethos. We expect to grow and develop LB Bentley’s business with the help of our well-established global infrastructure and routes to market.”
Severn Glocon Group is a major manufacturer of specialised control and choke valves and a provider of valve aftermarket services for the oil and gas, LNG and processing industries. This strategic acquisition enhances the Group’s core capabilities and will further strengthen its global positioning.
Subsea World News Staff , July 04, 2012; Image: LB Bentley