CHARLOTTE, NC — SPX FLOW, Inc., a provider of process solutions for the nutrition, health and industrial markets, announced it has signed a definitive agreement to acquire mixing solutions provider Philadelphia Mixing Solutions, Ltd. from Thunder Basin Corporation, an affiliate of Wind River Holdings, L.P. The transaction valued at $65 million is expected to close during the second quarter of 2021.
This acquisition is in line with SPX FLOW’s disciplined approach to mergers & acquisitions, which is focused on strategic alignment combined with clear plans for value creation.
Based in Palmyra, Pennsylvania, Philadelphia Mixing Solutions employs approximately 150 people and generated nearly $50 million in revenue in 2020. The company has more than six decades of industry experience in multi-industry mixing products and service, along with a reputation for world-class innovation, technical support, testing, analysis and field service.
"The Philadelphia Mixing Solutions team’s proven track record of customer focus, technical expertise, quality and on-time delivery closely aligns with our own strategy, culture and growth priorities,” said Marc Michael, president and CEO of SPX FLOW. “The combination of these two great mixer businesses will create new opportunities for synergy and growth, while also broadening our portfolio of comprehensive mixing solutions for customers in the chemical, water and wastewater, petrochemical, pharmaceutical, and nutrition and health markets.”
“Once this transaction is completed, becoming part of a global process solutions leader like SPX FLOW will allow us to expand the solutions we offer to customers, take advantage of greater economies of scale, and provide access to broader global markets, unlocking new growth opportunities for our product lines,” said Mark Self, CEO of Philadelphia Mixing Solutions.