Atlas Copco is to acquire Edwards, a provider of vacuum products and abatement solutions.
The acquisition of Edwards offers Atlas Copco an opportunity to expand into a growing business which serves industries that are well-known to Atlas Copco.
“Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco,” said Ronnie Leten, president and CEO at Atlas Copco. “The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”
Edwards’ products and services are integral to manufacturing processes, such as for semiconductors and flat panel displays, and are used within an increasingly diverse range of industrial applications. There are several synergies between vacuum and compressed air solutions in sales, service and technology development.
“We recognize the strength Edwards has in its people and products as well as their excellence in technology and innovation. We are excited that this professional company will join our Group,” added Leten.
The acquisition is an all-cash transaction utilizing Atlas Copco’s existing own funds and is expected to close in the first quarter of 2014.
Edwards will be part of Atlas Copco’s new Vacuum Solutions division within the Compressor Technique business area.
