Gardner Denver to Acquire LeROI Compressors
June 07 2017 - 9:14AM
Business Wire
- Acquisition of LeROI Compressors
will provide further access to gas compression and vapor recovery
market
- Gardner Denver’s distribution
network, operational framework, and global R&D capabilities to
be leveraged to drive future profitable growth at LeROI
- Acquisition fits disciplined capital
allocation strategy of M&A in core, mission critical
technologies with strong aftermarket characteristics
Gardner Denver Holdings Inc. (NYSE: GDI), a leading global
provider of mission-critical flow control and compression
equipment, announced today that it has acquired LeROI Compressors
(“LeROI”) for a purchase price of approximately $20 million funded
by cash on hand. Based in Sidney, Ohio, LeROI is a leading North
American manufacturer of gas compression equipment and solutions
for vapor recovery, biogas and other process and industrial
applications. LeROI will be part of Gardner Denver’s Industrials
Segment.
“LeROI is a market-leading business with strong talent and
excellent long-standing customer relationships,” said Vicente
Reynal, Gardner Denver’s CEO. “This transaction is aligned with our
strategy of leveraging core technologies and know-how to drive
organic growth and build additional value at acquired companies.
LeROI will provide mission-critical gas compression technologies
and enable expansion of our product offering into new and
attractive markets. We are thrilled to welcome the LeROI team to
the Gardner Denver family,” added Reynal.
“This marks an exciting time for the LeROI business,” said
Richard Wall, LeROI’s President. “As part of Gardner Denver, LeROI
will be better positioned than ever to continue to deliver service
excellence to our customers and expand into new markets.”
About Gardner Denver
Gardner Denver (NYSE: GDI) is a leading global provider of
mission-critical flow control and compression equipment and
associated aftermarket parts, consumables and services, which it
sells across multiple attractive end-markets within the industrial,
energy and medical industries. Its broad and complete range of
compressor, pump, vacuum and blower products and services, along
with its application expertise and over 155 years of engineering
heritage, allows Gardner Denver to provide differentiated product
and service offerings for its customers' specific uses. Gardner
Denver supports its customers through its global geographic
footprint of 37 key manufacturing facilities, more than 30
complementary service and repair centers across six continents, and
approximately 6,100 employees world-wide. For more news and
information on Gardner Denver, please visit
www.gardnerdenver.com.
Forward Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” You can identify forward-looking
statements because they contain words such as “will,” “believes”
and “expects.” Forward-looking statements are based on Gardner
Denver’s current expectations and assumptions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
may differ materially from those contemplated by the
forward-looking statements, which are neither statements of
historical fact nor guarantees or assurances of future performance.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements are set
forth in our filings with the Securities and Exchange Commission,
including our registration statement on Form S-1, as amended from
time to time, under the caption “Risk Factors.”
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Gardner Denver Holdings, Inc.Media & Investor Relations
ContactVikram Kini(414) 212-4753vikram.kini@gardnerdenver.com
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