Sale of Kent manufacturer Flow International completed
Flow International was acquired Friday by a private equity firm, eight months after the producer of industrial waterjet cutting tools said it would look for a buyer.
The sale of Kent-based manufacturer Flow International to a private equity firm was completed Friday, eight months after the producer of industrial waterjet cutting tools said it would look for a buyer because of disappointing sales results.
The company, whose equipment is used to cut everything from baby carrots and poultry to composite panels for Boeing and Airbus jets, agreed in September to an acquisition by American Industrial Partners for $4.05 per share, roughly $200 million.
Flow went public in the 1980s. It employs approximately 700 people and has manufacturing locations in Kent and in Jeffersonville, Ind., with additional sales offices overseas, according to the company.
A statement from Eric Baroyan, an executive at American Industrial, said the investment firm “is very excited to partner with Flow’s management team and help continue to grow the company.”