Irving-based Flowserve Corporation, a leading provider of flow control products and services for global infrastructure markets, has agreed to acquire Glasgow, Scotland-based Trillium Flow Technologies’ Valves Division (TVD) for $490 million in cash. The division is a top provider of highly engineered, mission-critical valves used in nuclear and traditional power generation, industrial, and critical infrastructure applications.

“TVD’s products and capabilities are highly complementary to our portfolio and will enhance our ability to meet future demand in nuclear, traditional power, and more broadly across the industrial landscape,” Scott Rowe, Flowserve’s president and CEO, said in a statement.

“We see strong aftermarket potential from their global installed base that’s expected to drive profitable growth,” he added. “The acquisition underscores our commitment to building a more cycle-resilient business and will enhance value for shareholders, customers, and associates.“

The deal is slated to close mid-year 2026.

 Nearly 200-year legacy

TVD’s extensive portfolio of brands serves a global customer base across attractive and growing end markets with a nearly 200-year legacy of engineering excellence and reliable performance, Flowserve said. The acquisition will expand Flowserve’s footprint in both conventional and emerging markets by integrating TVD’s highly specialized valve and actuation product portfolio, differentiated power and nuclear technology, and scalable service offerings.

TVD’s large installed base of over 200,000 units—including assets in 115 operating nuclear reactors—generates recurring, high-margin demand for aftermarket services, replacements, and spare parts. Adding TVD’s portfolio strengthens Flowserve’s leading nuclear position—supporting more than 300 reactors worldwide—and improves the company’s ability to serve existing nuclear assets while delivering a broad range of flow control solutions for new traditional and small modular reactors, the company said.

Transaction details

The purchase price of $490 million represents a multiple of approximately 12.3x TVD’s 2025 adjusted EBITDA, excluding the impact of anticipated synergies. TVD is expected to have annualized revenues of approximately $200 million with adjusted EBITDA margins in the high teens. The company said it expects to leverage the Flowserve Business System to increase TVD’s margins over time.

The deal is expected to be accretive to adjusted operating income in 2026, excluding anticipated synergies.

Flowserve expects to fund the deal through a combination of cash on hand and additional debt. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals, the company noted.

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