The business was valued at 11.3 times its EBITDA of $17.8m.
The deal is expected to be completed in early 2014 after securing the approval of Flow’s shareholders and regulatory approvals.
AIP partner Richard Hoffman said, “We are excited about this agreement with Flow, which is known throughout its industry for its innovative waterjet technology. We have been impressed by the Company’s capabilities and its strong relationships with its global customer base.
“We will work with the Flow management team to continue investing in the Company’s technology to grow the waterjet share of the worldwide cutting market.”
The deal came a month after AIP bought ultra-high pressure pump maker KMT Group in a deal worth $147.5m.
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