Gardner Denver Acquires Oina
08 Julio 2019 - 9:15AM
Business Wire
- Acquisition of Oina will provide further access to the
peristaltic pumps market and enhanced R&D capabilities and
leverage Gardner Denver’s distribution network, commercial, and
operational capabilities
- Acquisition fits disciplined capital allocation strategy of
M&A in mission-critical technologies with strong aftermarket
potential
Gardner Denver Holdings, Inc. (NYSE: GDI), a leading global
provider of mission-critical flow control and compression
equipment, announced that it has acquired Oina VV AB, for a net
purchase price of approximately $10 million funded by cash on hand.
Based in Stockholm, Sweden, Oina specializes in customized pump
solutions for liquid handling processes for use in medical, process
and industrial applications. Oina will be part of Gardner Denver’s
Medical Segment.
“Oina has a strong history of delivering innovative products and
building excellent customer relationships. This acquisition
complements and expands our existing peristaltic pump offering and
provides increased access to and expertise in the market,” said
Vicente Reynal, Gardner Denver’s CEO. “This is another important
step in our strategy to drive ongoing profitable growth by
leveraging core, mission-critical technologies in attractive end
markets.”
The CEO of Oina, Anders Lovas, stated, “We are excited to join
the Gardner Denver family. Oina will be able to leverage an
expanded commercial and operational footprint as we continue to
innovate and deliver high quality products and service to our
customers.”
Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act") and Section 21E of the Securities
Exchange Act of 1934. These statements include, but are not limited
to, statements related to our expectations regarding the
performance of our business, our financial results, our liquidity
and capital resources and other non-historical statements. You can
identify these forward-looking statements by the use of words such
as "outlook," “guidance,” "believes," "expects," "potential,"
"continues," "may," "will," "should," "could," "seeks," "projects,"
"predicts," "intends," "plans," "estimates," "anticipates" or the
negative version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties, including macroeconomic factors beyond the Company’s
control, risks of doing business outside the United States, the
Company’s dependence on the level of activity in the energy
industry, potential governmental regulations restricting the use of
hydraulic fracturing, raw material costs and availability, the risk
of a loss or reduction of business with key customers or
consolidation or the vertical integration of the Company’s customer
base, loss of or disruption in the Company’s distribution network,
the risk that ongoing and expected restructuring plans may not be
as effective as the Company anticipates, and the Company’s
substantial indebtedness. Additional factors that could cause
Gardner Denver’s results to differ materially from those described
in the forward-looking statements can be found under the section
entitled "Risk Factors" in our most recent annual report on form
10-K filed with the Securities and Exchange Commission (“SEC”), as
such factors may be updated from time to time in our periodic
filings with the SEC, which are accessible on the SEC's website at
www.sec.gov. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. These factors should not
be construed as exhaustive and should be read in conjunction with
the other cautionary statements that are included in this release
and in our filings with the SEC. We undertake no obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments or otherwise,
except as required by law.
About Gardner Denver
Gardner Denver (NYSE: GDI) is a leading global provider of
mission-critical flow control and compression equipment and
associated aftermarket parts, consumables and services, which it
sells across multiple attractive end-markets within the industrial,
energy and medical industries. Its broad and complete range of
compressor, pump, vacuum and blower products and services, along
with its application expertise and over 155 years of engineering
heritage, allows Gardner Denver to provide differentiated product
and service offerings for its customers' specific uses. Gardner
Denver supports its customers through its global geographic
footprint of 41 key manufacturing facilities, more than 30
complementary service and repair centers across six continents, and
approximately 6,700 employees world-wide.
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version on businesswire.com: https://www.businesswire.com/news/home/20190708005440/en/
Gardner Denver Holdings, Inc. Media & Investor Relations
Contact Vikram Kini (414) 212-4753
vikram.kini@gardnerdenver.com
Gardner Denver (NYSE:GDI)
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