STOCKHOLM, Sweden — Atlas Copco, a provider of sustainable productivity solutions, has acquired U.S. vacuum pump service provider Innovative Vacuum Solutions Inc. and Italian pump manufacturer Varisco.
Innovative Vacuum Solutions is based in Tampa, Florida, and has 19 employees. The company, which was privately owned, specializes in the repair and maintenance of industrial and high vacuum pumps and related equipment, mainly on the U.S. East Coast. Innovative Vacuum Solutions had revenues in 2014 of about $3.8 million.
“This acquisition fits well into our strategy of increasing our presence in the U.S. vacuum market by providing high-quality service for our customers,” said Nico Delvaux, President of Atlas Copco’s Compressor Technique business area.
The acquired company becomes part of Edwards Vacuum, LLC within the Vacuum Solutions division in Atlas Copco’s Compressor Technique business area. The parties have agreed not to disclose the purchase price.
Varisco is based in Padua near Venice, Italy, and had revenues in 2014 of $32.1 million. It employs about 135 people. Founded in 1932, Varisco is known around the world for the design and manufacture of high-quality pumps used by a wide range of customers. The pumps are typically used to remove unwanted water or other liquids in the construction, mining, and oil and gas industries; they are also used in industrial process plants and for emergency services in case of floods.
“The pump business is a focused growth segment for us,” said Andrew Walker, President of Atlas Copco’s Construction Technique business area. “Varisco’s outstanding products and customer base make this an attractive acquisition.”
Varisco will become part of the Portable Energy division in the Construction Technique business area. The acquisition is expected to be completed shortly. The parties have agreed not to disclose the purchase price.