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Bonney Forge has completed its acquisition of BFE S.p.A, an Italian manufacturer of industrial valves for the oil and gas industries. The acquisition was a cash transaction and other terms were not disclosed.
BFE’s product catalog includes forged steel valves, API 6A valves, ball valves, cast steel valves and pressure seal valves. Since 1987, BFE has had an exclusive license agreement to use Bonney Forge’s trademark in markets outside North America. Bonney Forge has been the exclusive sales and marketing agent for BFE products in the U.S., Canada and the Caribbean.
“The completion of this acquisition marks an exciting new chapter for Bonney Forge,” said John Leone, Bonney Forge chairman and CEO. “This is an ideal strategic alliance between two experienced management teams with a long history of successfully partnering. BFE’s highly engineered products, key position as a premier supplier in the international oil and gas industry, and exciting growth potential make it a compelling fit for our organization.”