Charlotte company SPX Flow grows again with $65 million acquisition

Charlotte-based SPX Flow is acquiring a Pennsylvania company in a $65 million deal that will combine two top mixing equipment brands.

SPX Flow has purchased Philadelphia Mixing Solutions from Thunder Basin Corp., an affiliate of Wind River Holdings, the companies said Wednesday. The transaction is expected to close during the second quarter this year.

Combining the two mixer businesses creates opportunity for growth, “while also broadening our portfolio of comprehensive mixing solutions for customers in the chemical, water and wastewater, petrochemical, pharmaceutical, and nutrition & health markets,” SPX Flow President and CEO Marc Michael said in a statement.

Based in Palmyra, Pennsylvania, Philadelphia Mixing Solutions has about 150 employees and generated nearly $50 million in revenue last year, according to a news release.

The aquisition will expand customer access to broader global markets and growth opportunities with SPX Flow product lines, Philadelphia Mixing Solutions CEO Mark Self said in a statement.

This is SPX Flow’s second acquisition this year. In January, the company completed the sale of European-based UTG Mixing Group, the maker of Stelzer, Uutechnic, and Jamix mixing solutions for food and beverage, chemical and pharmaceutical markets, and others. Terms of the deal were not disclosed.

Last year, SPX Flow sold its power and energy division to Apollo Global Management for about $400 million. SPX Flow now provides 50% sales in sanitary markets such as food and beverage, pharmaceuticals, water and personal care, and about 50% sales in industrial markets such as specialty chemical processing, air treatment and mining, according to the company.

SPX Flow, headquartered in Ballantyne, had about $1.4 billion in 2020 annual revenues. It operates in more than 30 countries and has more than 5,000 employees.

This story was originally published April 29, 2021 at 9:46 AM.