Gardner Denver Completes Acquisition of Robuschi
Gardner Denver, Inc. reported that on December 15, 2011 it completed the previously announced acquisition of Robuschi S.p.A. (“Robuschi”) for approximately €152 million ($200 million).
Based in Parma, Italy, Robuschi has annual revenues of approximately €70 million ($92 million).
Robuschi is a leading European producer of blowers, pumps and associated packages. These products are used in a wide variety of end markets including wastewater, mining, and power generation, as well as general industrial applications. With facilities in Noceto, Italy; Sao Paulo, Brazil; and Shanghai, China, in addition to its main production facility in Parma, Robuschi serves over 3,000 customers and has an installed base in excess of 200,000 units.
"Robuschi is an outstanding strategic addition to the Gardner Denver portfolio and an excellent fit with our Industrial Products Group," stated Barry L. Pennypacker, President and Chief Executive Officer of Gardner Denver. "Robuschi s advanced manufacturing capabilities are expected to enable significant cost synergies as we continue to optimize our European manufacturing footprint supported by the principles of the Gardner Denver Way. I would like to welcome the talented employees of Robuschi to the Gardner Denver family and I look forward to developing the strong Robuschi brand name globally."
Source: Gardner Denver, Inc.