Atlas Copco has reached an agreement to acquire Italian pump manufacturer Varisco.
Varisco is based in Padua near Venice, employs about 135 people ahd had revenues in 2014 of €30m. Its pumps are typically used in the construction, mining, and oil and gas industries; they are also used in industrial process plants and by emergency services in dealing with floods.
“The pump business is a focused growth segment for us,” said Andrew Walker, president of Atlas Copco’s Construction Technique business area. “Varisco’s outstanding products and customer base make this an attractive acquisition.”
Varisco will become part of the Portable Energy division in the Construction Technique business area. The acquisition is expected to be completed shortly. The parties have agreed not to disclose the purchase price.