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Atlas Copco acquires US construction tools company
Atlas Copco, a leading provider of sustainable productivity solutions, has acquired Pneumatic Holdings Inc., a leading US provider of pneumatic light construction tools.
Pneumatic Holdings, based in Santa Fe Springs, California, provides light pneumatic construction tools including paving breakers, chipping hammers, rivet busters and rock drills. The company has 16 employees and had revenue in 2012 of MUSD 10.8 (MSEK 73). The new legal owner is Atlas Copco Construction Mining Technique USA, LLC.
“The acquisition of Pneumatic Holdings strengthens our distribution and presence in the North American construction market,” said Nico Delvaux, president of Atlas Copco’s Construction Technique business area.
Pneumatic Holdings’s main customer segments consist of contractors and rental companies within the construction industry. The company becomes part of the Construction Tools division in Atlas Copco’s Construction Technique business area. Visit: www.atlascopco.com
Saab Seaeye acquires Hydro-Lek
Saab Seaeye, a wholly owned subsidiary of defence and security company Saab, has acquired Hydro-Lek Limited, a UK manipulator and tooling manufacturer for underwater vehicles. The acquisition strengthens Saab Seaeye’s product portfolio of remotely operated, autonomous and hybrid underwater vehicles with the ambition to further grow the company.
Formed 20 years ago, Hydro-Lek is an established supplier of manipulators and tooling for the ROV industry and defence and research industries. The acquisition enables Saab Seaeye to leverage Hydro-Lek’s unique tooling capability to further increase its presence in the commercial ROV market as a complete underwater ROV supplier.
Hydro-Lek will be a fully owned subsidiary of Saab Seaeye Limited, which is part of the underwater systems operation within Saab’s business area Dynamics.
Hydro-Lek, located in Finchampstead Berkshire, UK has a workforce of approximately 25 employees and service a global base of offshore industry customers in Europe, US and Asia. Visit: www.saab.com
SKF to acquire Kaydon Corporation
SKF and Kaydon Corporation have agreed that SKF will acquire Kaydon in an all-cash transaction valued at approximately USD 1.25 billion, including USD 95 million of net debt.
Tom Johnstone, SKF president and CEO, explains, “We have followed the development of Kaydon for a long time. They have a strong product portfolio, strong management and a solid financial performance and I am delighted that they will soon be part of the SKF Group. The complementary nature of their products and technologies, their geographical and customer presence and their manufacturing footprint will enable us to even better serve our customers and distributors in the industrial market worldwide. In particular this acquisition, combined with our other activities, investments and acquisitions in the last few years, shows our strong commitment to the North American market.”
Kaydon is a diversified industrial manufacturer with three distinct business areas: friction control products (bearings), velocity control products and speciality products, including environmental services. Visit: www.skf.com
Sekisui Alveo, a manufacturer of polyolefin foams and Mergon Automotive, a specialist in technical moulded parts, have signed a collaboration agreement. The objective is the joint development of PO foam air ducts for the automotive industry. The focus is the development of a special manufacturing process. In addition, new standards for weight savings and reduction of assembly components are to be implemented in the early development phase.
The agreement between Sekisui Alveo and Mergon envisages investment in a series of prototype moulds. They will develop solutions for current and future vehicle models. Mergon Automotive specialises in the production of air ducts for automotive interiors, for example in instrument panels and centre consoles. As part of the new collaboration Mergon Automotive will invest into equipment to enable the production of these parts using the vacuum twin-sheet process. Following the development and fabrication of the prototype moulds it is planned to trial thermoforming of the prototype air ducts in order to fine tune the moulds to the foam. This is done at Sekisui Alveo’s in-house Application Service Laboratory in Lucerne, Switzerland. Visit: www.mergon.com
