AxFlow has entered the market in Estonia, Latvia and Lithuania by acquiring Bahr Pump OU (Estonia), Pumptechnique SIA (Latvia) and Flow Technologies UAB (Lithuania).
The three companies’ businesses are based on high technical knowledge. They provide fluid handling equipment, advanced systems, and service to end-users and contractors. Their main products are pumps, valves, actuators, loading arms, hydrocarbon metering, and related service and repair, mainly for the petrochemical, chemical, food, and power generation segments. The transaction closed December 20.
“Although we have built a strong market position in Europe over nearly 30 years, the Baltic market has always been a white spot for us,” says AxFlow Holding’s CEO, Ole Weiner. “Bahr Pump, Pump-technique and Flow Technologies fit perfectly with our growth strategy which is based on finding great local companies that we can make even better together with the local team.”
AxFlow’s move is also in line with Axel Johnson International’s long-term strategy of acquiring well-established companies with highly skilled entrepreneurs, and growing the businesses together with the entrepreneurs.
“All three companies have strong management teams, highly skilled personnel, strong sales networks, and long, solid experience in their local markets,” Weiner says.
Most of the brands that the companies represent are already in AxFlow’s portfolio, including Viking, Bredel, Mono and Flowserve. This is expected to create supply-chain efficiencies and opportunities for sharing application knowledge.
The companies see clear advantages in being supported by AxFlow’s central resources and distribution centre. “We see large potential to grow in our markets by leveraging on AxFlow’s strengths such as common a distribution centre, application knowledge sharing and supply-chain efficiencies,” says Uku Liive, founder of Bahr Pump and part-owner of Pumptechnique and Flow Technologies. “There will also be opportunities to add other products to our portfolio in the future.”