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Atlas Copco acquires Indian vacuum pump maker HHV Pumps
Industry News- Oct 28,21
HHV Pumps designs and manufactures vacuum pumps and systems for applications used in a wide range of industries.
Pune
Atlas Copco – one of the leading companies in portable air compressors, light towers, pumps and handheld tools - has agreed to acquire HHV Pumps Pvt Ltd, which 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 has 151 employees. In the fiscal year of 2020 the company had revenues of approximately $ 6 million (approximately SEK 53 million).
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. 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," said Geert Follens, Business Area President, Vacuum Technique, Atlas Copco.
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 2022.
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