Valve engineering specialist Severn Glocon Group has acquired LB Bentley for an undisclosed sum as it seeks to diversify its offering and make inroads into 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 company’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 year 2012.
In the deal, Severn Glocon Group will acquire all intellectual property rights, the company’s 154 employees and its 60,000ft2 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.