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Summary
- Atlas Copco has acquired Nano Purification Solutions and some of its affiliates.
- The acquired company is involved in designing, production and sales of air treatment and on-site nitrogen generation equipment.
Atlas Copco AB, a prominent name in the industrial tool industry, has acquired the operating business of compressed air and gas company Purification Solutions LLC and some of its associates.
Purification Solutions LLC, which operates under the brand name Nano Purification Solutions, is a leading privately owned US-based, compressed air and gas solutions provider with a global sales network.
After completion of the acquisition, Purification Solutions LLC will become part of the Industrial Air division within the Compressor Technique Business Area of Atlas Copco.
The cost of the acquisition has not been disclosed yet, as the company has stated that it is not material relative to its market capitalisation.
Purification Solutions LLC, headquartered in Charlotte, North Carolina, is mainly involved in the designing, production and sales of air treatment and on-site nitrogen generation equipment.
The company has 60 employees based in Europe and the United States and had revenues of US$ 26 million in 2019.
Commenting on the development, Vagner Rego, Business Area President Compressor Technique, has stated that Purification Solutions LLC is a well-recognised company in the field of air treatment and nitrogen generation and their product offering and expertise will increase the company’s market share and will help in improving our business development in North America, Europe and other strategic markets.
(Image source: ©Kalkine Group 2020)
Recent acquisition
Based in Stockholm, Atlas Copco is a global, industrial company with customers in more than 180 countries and 39, 000 employees. In December, the company had completed the acquisition of Perceptron, a global leader, providing 3D automated metrology solutions and coordinate measuring machines. The acquisition, which was announced on 28 September, was completed after obtaining all the regulatory approvals.
The acquisition, which was an all-cash transaction utilising company’s existing funds, witnessed the company paying US$ 7.00 per share, corresponding to an enterprise value of US$ 60.8 million, including US$ 8.2 million of assumed net cash on hand.
With the completion of the Perceptron merger, it is now a wholly owned subsidiary of Atlas Copco, and its common stock was delisted from the Nasdaq Global Market.