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Process & Flow Control 2024 Year-in-Review & Q4 Update

Read more about M&A activity and trends in this sector

Process & Flow Control Industry Update

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Process & Flow Control Sector Overview

  • Process & flow control industry participants include manufacturers, distributors, and service providers offering solutions to support manufacturing and other processes through the management and control of liquids, gases, solids, and slurries across various end markets and applications
  • Public process & flow control companies recorded an overall mean EV/2025E EBITDA of 14.7x as of January 10, 2025, up from 13.1x as of January 10, 2024
  • M&A transaction volume and value in 2024 was down 21% and 59%, respectively, compared to 2023, however, demonstrated significant momentum in H2 2024
  • KPMG CF enters 2025 with strong momentum across the process & flow control sector, having closed five transactions in 2024 and one in January 2025

 

Sub-Sector

Key Players

Revenue/EBITDA Multiple(1)

Industrial Processing Solutions

Diversified providers of products that generate  (e.g., pumps, compressors), manage (e.g., valves,  actuators), and measure (e.g., sensors, meters)  flow and other variables (e.g., pressure,  temperature) across a range of production  processes
  • Badger Meter
  • Crane
  • Curtiss-Wright
  • Emerson Electric
  • Flowserve
  • IMI plc
  • Ingersoll Rand
  • Kadant
  • Mueller Water
  • Rotork
  • Watts Water
3.8x / 17.1x

Pumps & Compressors

Flow generating products that raise, transfer,  deliver, or compress solids, slurries, fluids, or  gases by suction, pressure, or a combination of  thermomechanical factors
  • Dover
  • Ebara
  • Franklin Electric
  • Graco
  • IDEX
  • Ingersoll Rand
  • Interpump Group
  • ITT
  • Sulzer
  • Gorman-Rupp
3.2x / 14.0x

Specialty Products

Other products and equipment serving niche  applications, including heat exchangers, blowers  and mixers, and filtration and purification products
  • Alfa Laval
  • AMETEK
  • Donaldson
  • Dover
  • Halma
  • IDEX
  • Indutrade
  • ITT
  • Parker-Hannifin
  • Pentair
  • Spirax-Sarco
  • Xylem
3.9x / 17.2x

Automation Technologies

Process automation products, technologies, and  software that collect data, monitor key process  variables, and control processes and/or equipment
  • ABB
  • Schneider Electric
  • Siemens
  • SMC
3.8x / 16.3x

Seals, Fittings, Pipes & Tubes

Key parts and components of flow control  equipment and systems that typically possess  high replacement rates and aftermarket content
  • Aalberts
  • Mueller Industries
  • Smiths Group
  • Trelleborg
2.0x / 10.6x

Dispensing Equipment

Products and systems that consistently and precisely  dispense, spray, dose, or apply various liquids, gases,  or materials, such as coatings, chemicals, or  pharmaceutical compounds in a controlled manner
  • Graco
  • Ingersoll Rand
  • Nordson
5.7x / 18.9x

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Process & Flow Control Industry Update

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Meet our team

In today’s market, you need an advisor with objective insight at every step of the transaction process. We work with you throughout the full deal cycle to create value and successfully execute your deal strategy.

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Chrisanne Corbett
Managing Director, Corporate Finance, KPMG Corporate Finance LLC
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Chrisanne Corbett
Managing Director, Corporate Finance, KPMG Corporate Finance LLC
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