News

Weir Minerals acquires knife gate valve manufacturer

Posted on 15 Jul 2015

The Weir Group PLC has agreed to acquire Delta Industrial Valves, a leading US-based manufacturer of knife gate valves for mining, for an enterprise value of up to $47 million. Based in Niles, Michigan, Delta employs approximately 70 people and generated EBITDA of some $6.2 million over the last 12 months.

The acquisition extends Weir Minerals’ leading presence in the mining and oil sands markets by expanding the division’s portfolio of valve products, particularly knife-gate valves, for use in the transportation of slurry. Keith Cochrane, Chief Executive of the Weir Group, said: “Weir is a global leader in process critical products in the mining and oil sands markets and the acquisition of Delta further strengthens our comprehensive offering to customers. Delta’s strong brand and reputation, together with Weir’s global capability, mean we will be able to offer our customers new ways to increase efficiency at a time when the industry is focused on reducing costs and increasing productivity.”

Mark Johnson, Vice-President of Delta, said: “We are delighted that Delta will be joining one of the world’s leading engineering businesses. Delta will be able to take advantage of Weir’s presence in more than 70 countries, bringing our valves technology to customers all over the world. We see significant opportunities ahead in what remain long-term growth markets.”

Delta’s products are capable of cutting, shearing, and closing against solids while still producing a zero leakage tight shut-off, and include the world’s only Safety Integrity Level certified knife gate valve series.