Atlas Copco completes acquisition of Geveke
By Keefe Borden01 August 2022
Atlas Copco has completed the acquisition of Geveke, an Amsterdam-based distributor of compressors and component parts. Terms of the acquisition were not announced.
Geveke was founded in 1874 and has 173 employees. In 2021, the company had revenue of about EUR 61 million. The acquisition is an all-cash transaction utilizing Atlas Copco’s funds.
The main part of the acquired businesses has its base in the power and flow division within Atlas Copco’s power technique business area and a smaller part in the service division within the compressor technique business area.
The acquisition of Geveke was made concurrently with the acquisition of LEWA GmbH, a manufacturer of diaphragm metering pumps, process pumps and complete metering systems. Terms of that acquisition were also not announced.
LEWA was founded in 1952 and is based in Germany. The company has around 1200 employees and in 2021 had revenues of EUR 233 million. LEWA offers industry-specific high-quality pump solutions for a wide range of industries.
Although Atlas Copco did not announce the specific terms of each acquisition, it said the combined enterprise value of both companies was EUR 670 million.