OMB Valves SpA, a globally recognised manufacturer of forged steel valves, has entered a due diligence process with BEL Valves to acquire its Milan based operations.
BEL Valves, which has manufacturing plants in the UK and Italy, has today announced the potential deal, with the intention being that OMB will acquire BEL Valves Srl.
BEL Valves, part of UK based engineering group British Engines, will continue its manufacturing operations in the UK.
Richard Turner, CEO of BEL Valves, said: “As unpredictability in our industry continues, this has led BEL Valves to review its positioning in the valves market. Our decision is to refocus on our conventional product lines from our UK based facility. This opportunity with OMB Valves, would bring strong synergies and opportunities for our team in Milan and allow the business to carve a sustainable path in their market segments.”
“The next few weeks will involve further due diligence with OMB, with the aim to complete the deal by May 2020.”
Simone Brevi, Managing Director of OMB Valves, said: “We are pleased to be in discussion with BEL Valves on this potential acquisition. Its Milan facility has a great deal of experience in the manufacture of project focused API 6D Ball and Gate valve products, which will be an excellent addition to our portfolio.
“We will continue to work with BEL Valves to ensure this potential acquisition is dealt with seamlessly.”