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Dover adds Italy's Finder to Pump Solutions Group
pumpindustry ANALYST
ISSN 1359-6128 August 2013
www.pumpindustryanalyst.com
Atlas Copco to acquire Edwards
Contents Company Profile
S
wedish industrial group Atlas Copco AB has entered into an agreement to acquire vacuum specialist Edwards Group Ltd in a deal valued at up to SEK10.6 billion. Edwards, which is headquartered in the UK and listed on the NASDAQ stock exchange in New York, specialises in vacuum products, including pumps, and abatement solutions for a range of industrial applications such as the manufacture of semiconductors and flat panel displays. Edwards had revenues of SEK6.4 billion in 2012, with more than half of this coming from Asia. The company has more than 3200 employees. “Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco,” said Atlas Copco president and CEO Ronnie Leten. “The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”
Atlas Copco is already strong in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. Edwards will be part of Atlas Copco’s new Vacuum Solutions division within the Compressor Technique business area.
D
5
DXP Enterprises
6
Company Watch Alfa Laval
7
Colfax
7
Energy Recovery
8
Flowserve
8
Nikkiso
9
Pentair
9
COMMENT
Diary
15
Edwards has seen a lot of changes over the last seven years. After Linde AG acquired the BOC Group in 2006, Edwards went on to be acquired by the private equity group CCMP in 2007. Having listed on the NASDAQ in 2012, Edwards now joins Atlas Copco. With vacuum a strategic growth area for Atlas Copco, Edwards can now focus on growing the business supported by its new parent company’s technological, geographical and financial strength. ■
Dividends
13
Exchange Rates
14
Financial Calendar
14
In Brief
12
For further information, visit www.atlascopco.com and www.edwardsvacuum.com
Market Prospects New Product Developments
2–4 14
News Atlas Copco to acquire Edwards
1
Dover adds Italy’s Finder to Pump Solutions Group 1
Dover adds Italy’s Finder to Pump Solutions Group over Corp’s Pump Solutions Group (PSG) has signed a definitive agreement to acquire Italy’s Finder SpA. Headquartered in Merate, Italy, Finder designs and manufactures engineered pumps and systems for the global energy market, primarily oil and gas, as well as for the desalination, chemical, pharmaceutical and food markets. The Finder product range includes centrifugal, twin screw and plunger pumps. Finder has operations in Merate and Querceta, Italy, and in Venissieux, France. The Italian pump group is expecting revenues of approximately US$80 million in 2013. Dean Douglas, president of PSG, said: “Finder will immediately provide PSG with
Curtiss-Wright
the product portfolio, application expertise, customer reference list, and key certifications required to serve the fast-growing upstream, midstream and downstream oil and gas markets. In addition, Finder further extends PSG’s presence in key growth markets in Europe, the Middle East and the Americas. We are excited to welcome a strong and talented management team that will continue to lead Finder in its growth.” PSG already has a strong presence in the upstream, midstream and downstream oil and gas market through Blackmer pumps and its recent Ebsray acquisition. For further information, visit www.finderpumps.com, www.psgdover.com and www.dovercorporation.com
Nordstjernan divests KMT Group to American Industrial Partners 12 Weir Minerals Canada invests in new Fort McMurray facility 12 Tencarva Machinery adds to Georgia pump base 12 Metso to spin off Pulp, Paper and Power businesses
13
GE Oil & Gas plans new global HQ in London 13 Xylem unveils US$250mn share repurchase program 13 CECO Environmental seals Met-Pro acquisition
13
Lewa-Nikkiso completes Geveke acquisition 16 KKR closes Gardner Denver deal
16
Grundfos extends Kansas facility lease
16
Orders & Contracts
10
People & Appointments
11
Stock Watch
15
ISSN 1359-6128/13 © 2013 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 August 2013
www.pumpindustryanalyst.com
Atlas Copco to acquire Edwards
Contents Company Profile
S
wedish industrial group Atlas Copco AB has entered into an agreement to acquire vacuum specialist Edwards Group Ltd in a deal valued at up to SEK10.6 billion. Edwards, which is headquartered in the UK and listed on the NASDAQ stock exchange in New York, specialises in vacuum products, including pumps, and abatement solutions for a range of industrial applications such as the manufacture of semiconductors and flat panel displays. Edwards had revenues of SEK6.4 billion in 2012, with more than half of this coming from Asia. The company has more than 3200 employees. “Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco,” said Atlas Copco president and CEO Ronnie Leten. “The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”
Atlas Copco is already strong in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. Edwards will be part of Atlas Copco’s new Vacuum Solutions division within the Compressor Technique business area.
D
5
DXP Enterprises
6
Company Watch Alfa Laval
7
Colfax
7
Energy Recovery
8
Flowserve
8
Nikkiso
9
Pentair
9
COMMENT
Diary
15
Edwards has seen a lot of changes over the last seven years. After Linde AG acquired the BOC Group in 2006, Edwards went on to be acquired by the private equity group CCMP in 2007. Having listed on the NASDAQ in 2012, Edwards now joins Atlas Copco. With vacuum a strategic growth area for Atlas Copco, Edwards can now focus on growing the business supported by its new parent company’s technological, geographical and financial strength. ■
Dividends
13
Exchange Rates
14
Financial Calendar
14
In Brief
12
For further information, visit www.atlascopco.com and www.edwardsvacuum.com
Market Prospects New Product Developments
2–4 14
News Atlas Copco to acquire Edwards
1
Dover adds Italy’s Finder to Pump Solutions Group 1
Dover adds Italy’s Finder to Pump Solutions Group over Corp’s Pump Solutions Group (PSG) has signed a definitive agreement to acquire Italy’s Finder SpA. Headquartered in Merate, Italy, Finder designs and manufactures engineered pumps and systems for the global energy market, primarily oil and gas, as well as for the desalination, chemical, pharmaceutical and food markets. The Finder product range includes centrifugal, twin screw and plunger pumps. Finder has operations in Merate and Querceta, Italy, and in Venissieux, France. The Italian pump group is expecting revenues of approximately US$80 million in 2013. Dean Douglas, president of PSG, said: “Finder will immediately provide PSG with
Curtiss-Wright
the product portfolio, application expertise, customer reference list, and key certifications required to serve the fast-growing upstream, midstream and downstream oil and gas markets. In addition, Finder further extends PSG’s presence in key growth markets in Europe, the Middle East and the Americas. We are excited to welcome a strong and talented management team that will continue to lead Finder in its growth.” PSG already has a strong presence in the upstream, midstream and downstream oil and gas market through Blackmer pumps and its recent Ebsray acquisition. For further information, visit www.finderpumps.com, www.psgdover.com and www.dovercorporation.com
Nordstjernan divests KMT Group to American Industrial Partners 12 Weir Minerals Canada invests in new Fort McMurray facility 12 Tencarva Machinery adds to Georgia pump base 12 Metso to spin off Pulp, Paper and Power businesses
13
GE Oil & Gas plans new global HQ in London 13 Xylem unveils US$250mn share repurchase program 13 CECO Environmental seals Met-Pro acquisition
13
Lewa-Nikkiso completes Geveke acquisition 16 KKR closes Gardner Denver deal
16
Grundfos extends Kansas facility lease
16
Orders & Contracts
10
People & Appointments
11
Stock Watch
15
ISSN 1359-6128/13 © 2013 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.