News & Updates » Gardner Denver acquires Finland-based firm for $93 million
Gardner Denver acquires Finland-based firm for $93 million
Gardner Denver has purchased a Finnish manufacturer Runtech Systems, manufacturers turbo vacuum technology systems for a net purchase price of $93 million.
Gardner Denver, a manufacturer of flow control and compression equipment has about 6,400 employees working at more than 38 manufacturing plants and more than 30 service and repair centers across the world. They said the acquisition of Finland-based Runtech Systems Oy was funded by cash on hand. Runtech will become part of the Gardner Denver’s Industrials Segment.
Runtech’s origins stem from the paper making industry. Its vacuum and dewatering equipment and other products are used primarily for the optimization of tissue, board, paper and pulp machines.
Vicente Reynal, Gardner Denver’s CEO, said the addition of Runtech aligns with the company’s strategy of growing through acquired companies and that it will enable the company’s entry into new markets.
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