A Lebanon County-based blending solutions provider was acquired by a North Carolina company.
SPX stream, a provider of process solutions for the nutrition, healthcare and industrial markets has signed an agreement to acquire Palmyra-based Philadelphia Mixing Solutions from Thunder Basin Corporation, a subsidiary of Wind River Holdings.
“This acquisition is in line with SPX Flow’s disciplined approach to mergers and acquisitions, which focuses on strategic alignment combined with clear plans for creating value,” SPX Flow said in a press release.
Terms of the deal were not disclosed. The deal is expected to close in the second quarter. The Philadelphia Mixing Solutions office in Palmyra will remain open. The company employs around 150 people. Philadelphia Gear was founded in 1892 and launched its line of blenders in 1954.
“The Philadelphia Mixing Solutions team’s proven track record of customer focus, technical expertise, quality and on-time delivery closely aligns with our own strategy, culture and growth priorities,” said Marc Michael, President and CEO of SPX Flow in a press release. “The combination of these two major mixer businesses will create new opportunities for synergy and growth, while expanding our portfolio of complete mixing solutions for customers in the chemicals, water and wastewater, petrochemicals, pharmaceuticals and nutrition and health. “
SPX Flow is based in North Carolina and has operations in over 30 countries and sales in over 140 countries.
“The company’s product offering is concentrated in process technologies that perform mixing, blending, fluid handling, separation, thermal heat transfer and other activities that are integral to the processes performed on a wide variety of nutrition, healthcare and industrial markets, ”SPX Flow said in a press release.