Flowserve acquires U.K.-based Greenray Turbine Solutions

Flowserve said it has acquired Greenray Turbine Solutions, expanding its aftermarket capabilities in industrial gas turbines. (Image: Greenway Turbine Solutions)

Flowserve Corp. has acquired U.K.-based Greenray Turbine Solutions Ltd., strengthening its aftermarket products and services offering for industrial gas turbines and expanding its presence in global power generation and infrastructure markets.

The acquisition, completed for approximately $72 million in cash, is expected to contribute about $25 million in annual revenue. Financial terms beyond the purchase price were not disclosed.

Greenray specializes in aftermarket products and services for industrial gas turbines, supporting a large installed base of mission-critical equipment. Flowserve said the deal provides access to deep technical expertise and durable aftermarket revenue, while creating opportunities to scale Greenray’s offerings through Flowserve’s global network of Quick Response Centers.

“Greenray has built a strong reputation for credibility and innovation in servicing gas turbines,” said Lamar Duhon, president of Flowserve’s Pumps Division. “Adding their unique capabilities to Flowserve gives us access to products that are complementary to our rotating equipment portfolio and critically important to power generation end markets across the globe.”

Flowserve said the acquisition aligns with its strategy of expanding aftermarket and service-driven revenue streams while enhancing its rotating equipment and flow control portfolio. By integrating Greenray’s turbine-focused capabilities into its global service footprint, the company aims to accelerate growth across power generation and other infrastructure-related markets.

Headquartered in the United States, Flowserve is a global provider of engineered and industrial pumps, seals, valves and related flow management services. The company operates in more than 50 countries and serves customers across energy, power, chemical, water and other industrial sectors.

Greenray is known for its specialized turbine solutions and technical support for industrial gas turbine operators.