Amberjack Capital closes carve-out of Flowserve’s PNV Automation group
- The carveout transaction from Flowserve for about $35 million has closed.
- PMV is a provider of control valve positioners, limit switches, and automation products serving the water, wastewater, pulp and paper, pharmaceutical, food and beverage, chemicals and refining markets.
Amberjack Capital Partners announced the closing of the acquisition of PMV Automation from Flowserve for $35 million. Houston-based Amberjack made the investment in partnership with industry executives Joseph Jobe and Micah Floyd, who will lead the company post-closing.
The deal was announced on May 7 and includes PMV’s Houston, Texas and Solna, Sweden facilities.
PMV is a provider of control valve positioners, limit switches, and automation products serving the water, wastewater, pulp and paper, pharmaceutical, food and beverage, chemicals and refining markets.
Piper Sandler acted as financial adviser to Amberjack with legal adviser Sidley Austin.
