Acquisitions were on agendas of three regional firms yesterday: Flow General Inc., Heilig-Meyers Co. and UNC Resources.
Flow General Inc. of McLean completed acquisition of a California firm and said it has signed a final agreement to buy a Massachusetts business for $60 million.
To take over the California firm of Semifab Inc., Flow General gave its former owners $3.25 million worth of Flow General stock now and set aside another $3.25 million of stock for additional payment based on Semifab's performance.
Semifab, a maker of clean-air equipment and related gear for the semiconductor industry with sales last year of $5.5 million, will be operated as a wholly owned subsidiary of Flow General.
Flow General also announced it has completed a definitive agreement to buy the Worthington Division of Millipore Corp. of Bedford, Mass., effective in the first week of March.
In a $44 million deal, Richmond-based Heilig-Meyers Co. agreed to be acquired by Levitz Furniture Co. Under the agreement, Levitz will pay $12.485 in cash and notes for each of the closely held 3,552,421 shares outstanding.
The transaction must meet serveral terms, including Levitz' investigation of Heilig-Meyers.
In still another deal, UNC Resources of Falls Church has agreed to acquire Falcon Pump and Supply Co., a privately owned firm headquartered in Casper, Wyo. Falcon, a distributor of industrial pumps to the petroleum industry, had annual sales of about $5 million. Neither company disclosed terms of the deal.