VALVE MAGAZINE Spring 2024

INDUSTRY NEWS

Talos Energy Announces Divestiture of Subsidiary to TotalEnergies Talos Energy Inc. announced that it has entered into an agreement for the sale of its wholly owned subsidiary, Talos Low Carbon Solutions LLC (TLCS), to TotalEnergies E&P USA Inc. for a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash, combined totaling approximately $148 million. Talos intends to use the proceeds from the sale to immediately repay borrowings under its credit facility and for general corporate purposes. The sale includes Talos’ entire carbon capture and sequestration (CCS) business, including its three projects along the U.S. Gulf Coast: Bayou Bend CCS LLC, Harvest Bend CCS LLC and Coastal Bend CCS LLC. Talos president and chief executive officer Timothy S. Duncan says, “Since TLCS’ inception, we have successfully applied our energy expertise as an early mover aimed at developing decarbonization solutions along the U.S. Gulf Coast. The transaction will further enable Talos to prioritize cash flow generation and optimal capital allocation in our core Upstream business. We are also continuing

Acquisitions/Sales

NSF Acquires PSILab Inc. NSF, a global public health and safety organi zation, announced the acquisition of PSILab Inc., a U.S.-based advanced product testing and consulting laboratory specializing in plastic pipe, pipe materials, and other polymeric and composite products. An ISO 17025-accredited, state-of-the-art laboratory, PSILab Inc. is located in Longmont, Colorado, and provides laboratory testing, failure analysis and consulting services. As a result of the acquisition, existing NSF clients will have added access to new testing services,

CDI Acquires Gilmore Control Devices, a portfolio company of HBM Holdings, has acquired Gilmore. The acquisition expands Control Devices’ flow control solu tions portfolio while widening its reach in the oil and gas market. The acquisition also broadens HBM Holdings’ expertise in the flow control sector. “Gilmore has a history of excellence in the development of severe service flow control solutions and is known for quality and operational excel lence, all supported by the talented Gilmore team,” says Jim Norris, pres ident and CEO of Control Devices. “With this acquisition, we are enthu siastic about expanding our products, technology and capabilities.” Headquartered in Houston, Texas, Gilmore designs and manufactures high-performance severe-service valves and other flow control solu tions, including custom valves to meet client specifications and pressure relief systems. Its products are designed for demanding applica tions and harsh environments in the upstream oil and gas industry.

including material properties and large-diameter pipe testing, finished goods hydrostatic pressure and burst testing, extensive product failure analysis and plastic pipe consulting.

Curtiss-Wright Completes Acquisition of WSC Inc. Curtiss-Wright Corp. has completed the acquisition of WSC Inc. for approxi mately $34 million in cash. WSC is a provider of state-of-the-art simulation technology that supports the design, commissioning and reliable operation of commercial nuclear power generation and process plants worldwide with an installed base of over 225 plant simulators. The acquired business will operate within Curtiss-Wright’s Naval and Power segment. WSC’s proprietary 3KEYMASTER simulation platform is used in its nuclear full-scope simulators mandated by the Nuclear Regulatory Commission (NRC) and remain integral to reactor operator training and licensing. Simulation assisted engineering tools optimize the design and commissioning of plants, including Advanced Small Modular Reactors (ASMRs), by creating a digital twin of plant components and systems to reduce risk, accelerate delivery and improve quality at a lower cost.

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VALVE MAGAZINE

SPRING 2024