Gardner Denver Announces Acquisition of Bottarini S.p.A.
Gardner Denver, Inc. announced today that it has acquired all of the outstanding shares of Bottarini S.p.A., a leading packager of industrial air compressors located near Milan, Italy. This acquisition enhances the company's ability to serve the European market.
The purchase price is approximately Euro 8.1 million, less Euro 0.9 million in assumed debt.
Ross Centanni, Chairman, President and Chief Executive Officer of Gardner Denver, said, "We are pleased to add the Bottarini brand to our growing product portfolio. This company has built a strong presence in Italy since its founding in 1952 and will provide us with expanded capacity and a low-cost compressor assembly operation to better serve the European market."
Gardner Denver, with 2004 revenues of $740 million ($896 million on a pro forma basis including the acquisition of Nash Elmo, which was completed in September 2004), is a leading worldwide manufacturer of reciprocating, rotary and vane compressors, liquid ring pumps and blowers for various industrial and transportation applications, pumps used in the petroleum and industrial markets, and other fluid transfer equipment serving chemical, petroleum, and food industries.
Source: Gardner Denver, Inc.