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January 4, 2019
Stockholm, Sweden, January 4, 2019: Atlas Copco has acquired German Industrie Pumpen Vertriebs GmbH (IPV). The company is a distributor of industrial pumps for the Varisco brand.
IPV is based in Dresden in Germany. The company had revenues of approximately MEUR 5 (MSEK 50) in 2017 and around 20 employees.
The main market for IPV is the chemical industry. "The industrial segment is key for us in order to further grow our pumps business," said Andrew Walker, Business Area President Power Technique. "The acquisition will strengthen our presence in the north west of Europe".
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
The acquired business will become part of Atlas Copco’s Power and Flow division in the Power Technique business area and legally be part of the Atlas Copco German holding company, Atlas Copco Holding GmbH.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers through its innovative compressors, vacuum solutions, generators, pumps, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2017, Atlas Copco (excluding Epiroc AB) had revenues of BSEK 86 (BEUR 9) and about 34 000 employees.