paid $12 million in cash and debt assumption for closely held Sagebrush Pipeline Equipment, Tulsa, Okla.
Circor, the Burlington, Mass., maker of valves and other fluid control devices for the instrumentation, aerospace, thermal fluid and energy markets, said Sagebrush provides pipeline flow control and measurement equipment to the North American oil and gas markets and will operate within Circor's Energy Products segment in Oklahoma City.
In 2005, Sagebrush had revenue of $25 million. Sagebrush sells both directly to the end-user pipeline companies in North America and through engineering, procurement and construction companies.
"Sagebrush offers our Circor Energy Products segment a unique entry into the U.S. pipeline flow control and measurement market and enhances our engineered product mix," CEO David Bloss said, adding that the deal will be accretive to earnings per share in 2006.
On Friday, Circor shares fell 34 cents to $29.60.