Gardner Denver Acquires Garo Dott. Ing. Roberto Gabbioneta S.p.A.
Expands portfolio of Liquid Ring Pumps and Compressors
HOUSTON, Oct. 30, 2014 /PRNewswire/ -- Gardner Denver today announced the acquisition of Garo Dott. Ing. Roberto Gabbioneta S.p.A. (hereinafter, Garo), a manufacturer of liquid ring compressors and packaged systems. Garo compressors and systems are used extensively in a number of critical applications in several industries including flare gas recovery in refineries, vapor recovery units and the handling of hazardous and corrosive gasses in chemical process industry. Garo will become part of the Gardner Denver Energy Group.
Founded in 1947, Garo operates in Monza, Italy and employs approximately 80 people. Garo and Gardner Denver have been strategic partners for many years. The companies have a history of collaboration as Gardner Denver has been Garo's exclusive distributor and packager for the USA, South America (excluding Argentina), Western Europe (excluding Spain and Italy), and China.
Saeid Rahimian, CEO of Gardner Denver's Energy Group said, "We are very excited to add Garo to the Energy Group. Garo is a well-known industry leader in liquid ring compressors and by joining forces we will strengthen our commitment to our customers of providing the highest quality technical solutions. This acquisition will enable us to offer our clients a complete portfolio of liquid ring pumps and compressors. This is a great strategic fit and opportunity for both Garo and Gardner Denver, and we will continue to invest in growing these products. We welcome the talented employees of Garo to the Gardner Denver family."
Garo has grown significantly over the past several years under the leadership of Roberto and Paolo Bassi. Both leaders will continue to be closely involved in all aspects of Garo's ongoing operations in their capacity as directors of Garo. Roberto Bassi, Managing Director of Garo said, "We are excited to join Gardner Denver. Being part of Gardner Denver will further enhance Garo's leadership in the design and production of highly engineered heavy duty compressors and packages made to the highest quality and reliability standards and will allow us to provide even better products and services to our customers."
Simmons & Company International provided strategic advisory services to Gardner Denver.
About Gardner Denver
Gardner Denver, Inc., is a leading worldwide manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. Gardner Denver is privately owned by affiliates of leading investment firm Kohlberg Kravis Roberts & Co L.P.
Forward-Looking Statements
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SOURCE Gardner Denver, Inc.
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