Private investment firms including Apollo Global Management LLC and First Reserve Corp. are among the potential buyers of the power and energy unit being sold by SPX Flow Inc., Bloomberg News reported, citing people with knowledge of the matter.
The business, which makes pumps, valves, filtration products and aftermarket parts under brands including the M&J Valve and ClydeUnion Pumps, is expected to be valued at about $700 million, the people said.
First Reserve could merge the unit with its portfolio company Trillium Flow Technologies, one of the people said.
Apollo and First Reserve representatives did not comment on the matter, while an SPX representative did not answer requests for comment, according to the report.
