Atlas Copco Group completes the acquisition of Australian dewatering pump manufacturer
December 5, 2023
Nacka, Sweden, December 5, 2023: Atlas Copco Group has completed the acquisition of Sykes Group Pty Ltd (Sykes) from Seven Group Holdings Ltd (SGH), a company listed on the Australian Securities Exchange (ASX).
Sykes is a global manufacturer of dewatering pumps, predominantly used for transferring water with solids and abrasive nature within the mining and wastewater sectors. It is headquartered in Newcastle, New South Wales, Australia. Sykes has 123 employees globally and annual revenues of approximately 65 MAUD (455 MSEK*).
Sykes serves the mining and wastewater segments with a wide range of surface dewatering pumps, together with chopper and cutter technologies for wastewater applications. It also has a complete and versatile portfolio of hydraulic submersible pumps.
The purchase price is not disclosed. The business becomes part of the Power and Flow Division within the Power Technique Business Area.
*Based on the average exchange rate in 2022. Revenues are for the 12 months ending June 30, 2023.
For more information please contact:
- Sara Hägg Liljedal, SVP Chief Communications Officer
+46 72 144 10 38
[email protected] - Daniel Althoff, Vice President Investor Relations
+46 76 899 95 97
[email protected]
For more information please contact:
Atlas Copco Group enables technology that transforms the future. We innovate to develop products, services and solutions that are key to our customers’ success. Our four business areas offer compressed air and vacuum solutions, energy solutions, dewatering and industrial pumps, industrial power tools and assembly and machine vision solutions. In 2022, the Group had revenues of BSEK 141, and 49 000 employees.