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China's Sany to acquire German concrete pump maker Putzmeister
pumpindustry ANALYST
ISSN 1359-6128 February 2012
www.pumpindustryanalyst.com
Dover adds Maag to Pump Solutions Group
Contents Company Profile
D
over Corp is buying the Maag Group from Clyde Blowers Capital and CGS Management. The Maag Group was established in 2010 through the merger of Maag Pump Systems and Automatik Plastics Machinery. Headquartered in Zurich, Switzerland, Maag manufactures gear pumps, pelletizers and filtration systems for the plastics, chemicals, extrusion and rubber industries. The company had a turnover of approximately E130 million in 2011, employs more than 500 people and has operations in Switzerland, Germany, the US, Italy and China. Under Dover ownership, Maag will become part of the company’s Downers Grove, Illinois-based Pump Solutions Group (PSG). “The acquisition of Maag further supports our strategic goal of deploying capital in our key growth spaces and will enhance our overall fluids position through the expansion of PSG’s product portfolio and technological depth within its core markets of chemicals and petrochemicals,” said Dover president and chief executive officer (CEO) Bob Livingston. Dean Douglas, president of Dover’s PSG, said: “We believe that the addition of the Maag Group deepens our leadership bench
while vastly expanding PSG’s product portfolio within our core markets of Chemicals and Petrochemicals.” “We feel that the strength of the Maag brand can be leveraged by PSG in the markets and applications in which we both serve,” added Douglas. Gary Lent, VP of corporate development for PSG, added: “The Maag acquisition is consistent with PSG’s M&A strategic vision of acquiring premium brand positive displacement pump and related technologies. We will continue to explore opportunities that enhance the value to PSG’s customer base.” For further information visit www.maag.com, www. clydeblowerscapital.com, www.cgs-management.com, www.pumpsg.com and www.dovercorporation.com
COMMENT With the disposal of Maag, entrepreneur Jim McColl will move out of pumps, following last year’s sale of ClydeUnion to SPX Corp. Meanwhile Pump Solutions Group continues to build and expand its portfolio, adding pump, pelletizing and filtration technologies. ■
C
5
Sulzer
6
Company Watch Colfax
7
Gardner Denver
7
Gorman-Rupp
8
IDEX
8
Roper Industries
9
Torishima Pump
9
Diary
15
Dividends
11
Exchange Rates
14
Feature – Mergers & Acquisitions Review 2011 12–13 Financial Calendar
14
In Brief
10
Market Prospects New Product Developments
2–4 14
News
China’s Sany to acquire German concrete pump maker Putzmeister hinese construction machinery company Sany Heavy Industry Co Ltd is acquiring Putzmeister Holding GmbH, the German concrete pump manufacturer. Sany, together with the Chinese Private Equity company CITIC PE Advisors (Hong Kong) Ltd as a minority shareholder, will acquire 100% of the privately-owned Putzmeister in a deal that will create a new global leader in concrete pumps. Aichtal, Germany-headquartered Putzmeister specialises
PSV Holdings
in construction machinery, particularly concrete pumps, for the building and mining industries, as well as for tunnel construction and largescale industrial projects. Putzmeister has 3000 employees and generated revenues of about E570 million in 2011. Norbert Scheuch will remain as CEO of Putzmeister and will join the Sany executive board. For further information, visit www.putzmeister.com and www.sanygroup.com
Dover adds Maag to Pump Solutions Group
1
China’s Sany to acquire German concrete pump maker Putzmeister 1 PSV Holdings to sell pump business to WPIL
16
Grundfos invests in Serbian factory
16
HMS acquires controlling interest in Russia’s DGHM
16
Interpump seals Galtech deal
16
Orders & Contracts
10
People & Appointments
11
Stock Watch
15
ISSN 1359-6128/12 © 2012 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.
ISSN 1359-6128 February 2012
www.pumpindustryanalyst.com
Dover adds Maag to Pump Solutions Group
Contents Company Profile
D
over Corp is buying the Maag Group from Clyde Blowers Capital and CGS Management. The Maag Group was established in 2010 through the merger of Maag Pump Systems and Automatik Plastics Machinery. Headquartered in Zurich, Switzerland, Maag manufactures gear pumps, pelletizers and filtration systems for the plastics, chemicals, extrusion and rubber industries. The company had a turnover of approximately E130 million in 2011, employs more than 500 people and has operations in Switzerland, Germany, the US, Italy and China. Under Dover ownership, Maag will become part of the company’s Downers Grove, Illinois-based Pump Solutions Group (PSG). “The acquisition of Maag further supports our strategic goal of deploying capital in our key growth spaces and will enhance our overall fluids position through the expansion of PSG’s product portfolio and technological depth within its core markets of chemicals and petrochemicals,” said Dover president and chief executive officer (CEO) Bob Livingston. Dean Douglas, president of Dover’s PSG, said: “We believe that the addition of the Maag Group deepens our leadership bench
while vastly expanding PSG’s product portfolio within our core markets of Chemicals and Petrochemicals.” “We feel that the strength of the Maag brand can be leveraged by PSG in the markets and applications in which we both serve,” added Douglas. Gary Lent, VP of corporate development for PSG, added: “The Maag acquisition is consistent with PSG’s M&A strategic vision of acquiring premium brand positive displacement pump and related technologies. We will continue to explore opportunities that enhance the value to PSG’s customer base.” For further information visit www.maag.com, www. clydeblowerscapital.com, www.cgs-management.com, www.pumpsg.com and www.dovercorporation.com
COMMENT With the disposal of Maag, entrepreneur Jim McColl will move out of pumps, following last year’s sale of ClydeUnion to SPX Corp. Meanwhile Pump Solutions Group continues to build and expand its portfolio, adding pump, pelletizing and filtration technologies. ■
C
5
Sulzer
6
Company Watch Colfax
7
Gardner Denver
7
Gorman-Rupp
8
IDEX
8
Roper Industries
9
Torishima Pump
9
Diary
15
Dividends
11
Exchange Rates
14
Feature – Mergers & Acquisitions Review 2011 12–13 Financial Calendar
14
In Brief
10
Market Prospects New Product Developments
2–4 14
News
China’s Sany to acquire German concrete pump maker Putzmeister hinese construction machinery company Sany Heavy Industry Co Ltd is acquiring Putzmeister Holding GmbH, the German concrete pump manufacturer. Sany, together with the Chinese Private Equity company CITIC PE Advisors (Hong Kong) Ltd as a minority shareholder, will acquire 100% of the privately-owned Putzmeister in a deal that will create a new global leader in concrete pumps. Aichtal, Germany-headquartered Putzmeister specialises
PSV Holdings
in construction machinery, particularly concrete pumps, for the building and mining industries, as well as for tunnel construction and largescale industrial projects. Putzmeister has 3000 employees and generated revenues of about E570 million in 2011. Norbert Scheuch will remain as CEO of Putzmeister and will join the Sany executive board. For further information, visit www.putzmeister.com and www.sanygroup.com
Dover adds Maag to Pump Solutions Group
1
China’s Sany to acquire German concrete pump maker Putzmeister 1 PSV Holdings to sell pump business to WPIL
16
Grundfos invests in Serbian factory
16
HMS acquires controlling interest in Russia’s DGHM
16
Interpump seals Galtech deal
16
Orders & Contracts
10
People & Appointments
11
Stock Watch
15
ISSN 1359-6128/12 © 2012 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.