A compressor system comprising: a compressor including a gas inlet and a lubricant inlet, the compressor operable to compress a gas and discharge a mixed flow of compressed gas and lubricant; a valve housing including a hot lubricant inlet, a cooled lubricant inlet, and a lubricant outlet connected to the lubricant inlet of the compressor; a sleeve disposed within the valve housing and at least partially defining a mixing chamber, the sleeve including a first aperture in fluid communication with the hot lubricant inlet to selectively admit a hot lubricant into the mixing chamber and having a first size, and a second aperture in fluid communication with the cooled lubricant inlet to selectively admit a cooled lubricant into the mixing chamber and having a second size, the second size being larger than the first size, the hot lubricant and cooled lubricant mixing in the mixing chamber to define a bulk lubricant that is directed to the lubricant outlet; an actuator coupled to the sleeve and operable to move the sleeve between a first position in which the first aperture is fully open and the second aperture is fully closed such that all of the lubricant flowing into the mixing chamber flows through the first aperture and amounts to a first quantity of the lubricant, and a second position in which the first aperture is closed and the second aperture is partially open such that all of the lubricant flowing into the mixing chamber flows through the second aperture and amounts to a second quantity that is about equal to the first quantity, the sleeve further movable between the second position and a third position in which the first aperture is closed and the second aperture is fully open such that all of the lubricant flowing into the mixing chamber flows through the second aperture and amounts to a third quantity that is greater than the first quantity. a compressor including a gas inlet and a lubricant inlet, the compressor operable to compress a gas and discharge a mixed flow of compressed gas and lubricant; a valve housing including a hot lubricant inlet, a cooled lubricant inlet, and a lubricant outlet connected to the lubricant inlet of the compressor; a sleeve disposed within the valve housing and at least partially defining a mixing chamber, the sleeve including a first aperture in fluid communication with the hot lubricant inlet to selectively admit a hot lubricant into the mixing chamber and having a first size, and a second aperture in fluid communication with the cooled lubricant inlet to selectively admit a cooled lubricant into the mixing chamber and having a second size, the second size being larger than the first size, the hot lubricant and cooled lubricant mixing in the mixing chamber to define a bulk lubricant that is directed to the lubricant outlet; an actuator coupled to the sleeve and operable to move the sleeve between a first position in which the first aperture is fully open and the second aperture is fully closed such that all of the lubricant flowing into the mixing chamber flows through the first aperture and amounts to a first quantity of the lubricant, and a second position in which the first aperture is closed and the second aperture is partially open such that all of the lubricant flowing into the mixing chamber flows through the second aperture and amounts to a second quantity that is about equal to the first quantity, the sleeve further movable between the second position and a third position in which the first aperture is closed and the second aperture is fully open such that all of the lubricant flowing into the mixing chamber flows through the second aperture and amounts to a third quantity that is greater than the first quantity.