Atlas Copco AB and Edwards Group Ltd. have entered into an agreement where Atlas Copco will acquire Edwards, a leading global supplier of vacuum and abatement solutions for an amount of up to BSEK 10.6 (£1.04 Billion). The company is headquartered in the United Kingdom and listed on the NASDAQ stock exchange in New York.
"Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco," said Ronnie Leten, President and CEO at Atlas Copco. "The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses."
Edwards is a technology and market leader in sophisticated vacuum products and abatement solutions with more than 90 years' experience. The products and services are integral to manufacturing processes, such as for semiconductors and flat panel displays, and are used within an increasingly diverse range of industrial applications. The vacuum solutions market is estimated to be larger than BSEK 40 (£3.9 Billion). Edwards has more than 3 200 employees and is headquartered in Crawley, United Kingdom.
The acquisition of Edwards offers Atlas Copco an opportunity to expand into a growing business which serves industries that are well-known to Atlas Copco. There are several synergies between vacuum and compressed air solutions in sales, service and technology development.