Atlas Copco closes Edwards acquisition
Sustainable productivity solutions provider Atlas Copco on Thursday announced that it had closed its acquisition of UK-based vacuum products and abatement solutions company Edwards Group.
The acquired business would be delisted from the Nasdaq and would now form part of Atlas Copco’s new vacuum solutions division in the compressor technique business area.
“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. The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses,” Atlas Copco president and CEO Ronnie Leten said.
Atlas Copco had initially paid Edwards shareholders $9.25 a share, with a further $1.25 a share still to be paid once Edwards’ audited 2013 income statement was final.
This statement was expected to be ready before the end of the first quarter of this year.
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