©UTG Mixing Group
SPX Flow has agreed to acquire Finnish company Uutechnic Group, together with its subsidiary UTG Mixing Group, which offers mixing solutions to the food and beverage industry.
The deal, which was made through SPX Flow’s German unit, includes all issued and outstanding shares of UTG for a cash consideration of €0.60 per share.
With locations in Finland and Germany, UTG Mixing Group is a producer of speciality mixing technologies for the chemical, food and beverage, environmental technology and pharmaceuticals markets under the Stelzer, Uutechnic and Jamix brands. The company offers mixing solutions for a wide range of food products including fruit desserts, fruit juice concentrates, honey, dairy products, chocolate and sugar.
According to SPX Flow, the acquisition will enable the growth of its mixing technology portfolio and will expand its European operations and sales networks.
Based in North Carolina, SPX Flow offers process technologies that perform mixing, blending, fluid handling, separation and other activities for the food, beverage and industrial markets.
“We are excited about the potential growth and synergy opportunities presented by bringing UTG Mixing Group into the SPX Flow family,” said Marc Michael, CEO of SPX Flow.
He added: “UTG’s products, skilled team members, technical expertise, manufacturing, and sales channels align well with our strategy to grow our core business in processing products and technologies. We expect this acquisition to add valuable additional capability and range to our global portfolio of mixing solutions and increase our presence in the European market.”
Jouko Peräaho, CEO of UTG Mixing Group, added: “We are pleased to join with a reputable global leader in mixing technology and process solutions like SPX Flow.
“Their sales network presents excellent opportunities to expand the sales of Stelzer, Uutechnic, and Jamix mixers worldwide, and we look forward to helping grow our combined mixing solutions offerings for the future.”
The transaction is expected to close in the first quarter 2021, subject to certain customary conditions.
© FoodBev Media Ltd 2024