CERTINA acquires Pibiviesse, a leading valve producer for the oil & gas industry.
CERTINA has successfully completed the acquisition of Pibiviesse S.r.l from US based CIRCOR International Inc. in a corporate carve-out for a consideration including earn-out of ca. € 20 Mio.
Pibiviesse has been CIRCOR International’s long-cycle upstream oil & gas engineered valve business.
The company develops and manufactures manual and automated on/off and control ball valves for the oil & gas, petrochemical, water transportation, and power industries. The company is widely recognized for its ability to customize valves to customer’s critical applications. Pibiviesse is based in Milan, Italy and serves international blue-chip companies all over the world.
CERTINA will separate the business from the structures of CIRCOR International and make it independent. Pibiviesse offers significant operational improvement potential and great synergies with PRUSS AG, CERTINA’s existing control valve business for gas and steam applications. The two companies will be kept independent but will benefit extensively from synergies in sales, product offering, sourcing and R&D.
Together with PRUSS and HANNEMANN, PIBIVIESSE will be part of the CERTINA Flow Control division.
“PIBIVIESSE is an exciting company with great potential, which we want to realize by market expansion, focus on R&D activities and creating synergies with PRUSS,” said Hans Wehrmann, CEO of CERTINA Holding AG. “Furthermore, we see consolidation in the market and expect future strategic M&A activities”.
Also see: www.pibiviesse.it