The company is headquartered in the UK and listed on the NASDAQ stock exchange in New York.
“Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well,” said Ronnie Leten, president and CEO at Atlas Copco. “It is a great fit for Atlas Copco. The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”
Edwards is a technology and market leader in sophisticated vacuum products and abatement solutions with more than 90 years’ experience.
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. There are several synergies between vacuum and compressed air solutions in sales, service and technology development.
The acquisition is an all-cash transaction utilising Atlas Copco’s existing own funds. The transaction, which will be completed by way of a merger, is subject to customary closing conditions. The transaction is expected to close in the first quarter of 2014.
Source: Atlas Copco
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