03/11/2021 – “India is an important market for us and a fast-growing economy“
Atlas Copco has agreed to acquire a provider of vacuum pumps in India
Atlas Copco has agreed to acquire HHV Pumps Pvt. Ltd. The company designs and manufactures vacuum pumps and systems for applications used in a wide range of industries.
HHV Pumps was founded in 2009 and is based in Bengaluru, India, and currently employs 151 people. In the fiscal year of 2020 the company had revenues of approximately MUSD 6 (approx. MSEK 53). HHV Pumps is a leading provider of vacuum pumps used for chemical and pharmaceutical industries, electrical power equipment, general industry, and rotary vane pumps used for manufacturing refrigeration and air-conditioning.
“India is an important market for us and a fast-growing economy”, said Geert Follens, Business Area President Vacuum Technique. “HHV Pumps has a strong reputation and through this acquisition we will strengthen our market presence as well as give us capabilities for local manufacturing.” 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 Industrial Vacuum Division within the Vacuum Technique Business Area. The acquisition is expected to close during the first quarter of 2022.
Atlas Copco Group
Atlas Copco is a global industrial group, founded in 1873 in Stockholm. In 2020 the company had revenues of BSEK100 (BEUR 10) and about 40 000 employees.