Flowserve Corporation announced the purchase of Greenray Turbine Solutions, a United Kingdom‑based provider of aftermarket products and services for industrial gas turbines, for $72 million in cash. The deal is expected to add roughly $25 million in annual revenue to Flowserve’s portfolio and to bring Greenray’s expertise and installed base of mission‑critical turbine equipment into Flowserve’s global Quick Response Center network.
The acquisition is a deliberate move to deepen Flowserve’s presence in the power‑generation aftermarket, a segment that offers higher‑margin recurring revenue than its core manufacturing business. By integrating Greenray’s service capabilities, Flowserve can cross‑sell to its existing turbine customers and capture a larger share of maintenance, repair, and overhaul work, which historically yields stronger gross margins than new equipment sales.
Flowserve’s Q3 2025 results—revenue of $4.69 billion and an adjusted operating margin of 14.8%—illustrate the company’s solid financial footing and its ability to invest in growth initiatives. The $25 million revenue lift from Greenray represents a 0.5% increase in Flowserve’s top line, while the higher‑margin aftermarket work is expected to improve operating leverage and support the company’s margin expansion trajectory.
Lamar Duhon, President of Flowserve’s Pumps Division, said the acquisition “adds complementary capabilities that enhance our rotating‑equipment portfolio and give us access to a critical customer base in the power‑generation market.” The quote underscores the strategic fit and the expected synergies in service delivery and customer relationships.
The deal reflects a broader industry trend toward consolidation in industrial services, as firms seek to broaden their recurring‑revenue streams and improve pricing power. While no immediate market‑reaction data is available, analysts view the acquisition as a positive step toward sustaining Flowserve’s growth momentum and strengthening its competitive position in the high‑margin aftermarket space.
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