Expanding on Previous Acquisition, Atlas Copco Sweeps Up Second Vacuum Business
11/20/2015 - Swedish compressor manufacturer Atlas Copco is acquiring Oerlikon’s Leybold Vacuum business in a deal based on an enterprise value of CHF525 million, the company said.
Through the deal, which is to close by the middle of 2016, Atlas Copco will build on its US$1.6 billion purchase of vacuum pumps maker Edwards Group last year, reported the Reuters news service.
Based in Germany, the business generated sales of CHF 390 million in 2014 and has more than 1,600 employees worldwide.
"We think this is a very good complement to what we have in other industry related businesses, and then mainly within industrial compressors," Atlas Copco CFO Hans Ola Meyer told Reuters, adding synergies would primarily come on the sales side.
Oerlikon has been looking to sell the business, its least profitable unit, for months, Reuters said. Oerlikon has been remaking its portfolio of businesses, and the deal marks its 13th strategic transaction in the last five years.
“This is another important milestone in our strategic effort toward focusing our businesses on attractive core growth markets in the fields of energy, mobility and urbanization. We intend to use the proceeds to invest in sustainable profitable growth within our core competencies,” said Oerlikon CEO Brice Koch in a statement.
Oerlikon said Atlas Copco is the ideal owner to unfold the vacuum segment’s full potential because Atlas has a strong position and wide expertise in the vacuum and compressor sector.
Based in Germany, the business generated sales of CHF 390 million in 2014 and has more than 1,600 employees worldwide.
"We think this is a very good complement to what we have in other industry related businesses, and then mainly within industrial compressors," Atlas Copco CFO Hans Ola Meyer told Reuters, adding synergies would primarily come on the sales side.
Oerlikon has been looking to sell the business, its least profitable unit, for months, Reuters said. Oerlikon has been remaking its portfolio of businesses, and the deal marks its 13th strategic transaction in the last five years.
“This is another important milestone in our strategic effort toward focusing our businesses on attractive core growth markets in the fields of energy, mobility and urbanization. We intend to use the proceeds to invest in sustainable profitable growth within our core competencies,” said Oerlikon CEO Brice Koch in a statement.
Oerlikon said Atlas Copco is the ideal owner to unfold the vacuum segment’s full potential because Atlas has a strong position and wide expertise in the vacuum and compressor sector.
