Press Release from Atlas Copco AB
Atlas Copco to acquire German industrial pump manufacturer
Nacka, Sweden, February 21, 2022: Atlas Copco has agreed to acquire Pumpenfabrik Wangen GmbH, a German manufacturer of progressive cavity pumps used for transferring fluids mainly in the biogas and wastewater sectors. The company also manufactures twin-screw pumps used in sectors like food and beverage and cosmetics.
Pumpenfabrik Wangen GmbH is based in Wangen, Germany, and has 265 employees. In 2020 they had revenues of approximately MEUR 46.4 (466 MSEK). The company has manufacturing facilities in Germany, and a global sales and service footprint.
"Industrial pumps is a segment that we have identified as a strategic fit for Atlas Copco and Wangen Pumpen has leading differentiated technology with a strong aftermarket business", said Andrew Walker, Business Area President Power Technique. "Wangen Pumpen is a strong brand and is known for quality in demanding industrial applications. This acquisition will create a solid foundation for further growth in new industrial pump segments. Industrial pumps play a crucial role in creating sustainable solutions for many industries and contributing to a better tomorrow".
The acquisition is expected to be completed during the second quarter 2022 and is subject to regulatory approvals.
The purchase price is not material relative to Atlas Copco's market capitalization and is not disclosed.
The acquired business will become part of the Power and Flow division within Atlas Copco's Power Technique Business Area.
For more information please contact:
Daniel Althoff, Vice President Investor Relations
+46 76 899 9597
Sara Hägg Liljedal, SVP Chief Communications Officer
+46 721 44 10 38
Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind. In 2021, Atlas Copco had revenues of BSEK111 and at year end about 43 000 employees.
(Subject to change at short notice)