Atlas Copco to buy Lewa and Geveke
By Keefe Borden14 March 2022
Atlas Copco plans to buy LEWA GmbH and subsidiaries, and Geveke B.V. and subsidiaries for a combined enterprise value of EUR 670mn (SEK 7.15bn). LEWA is a manufacturer of diaphragm metering pumps, process pumps and complete metering systems. Geveke distributes compressors and engineers advanced and complex process pump installations.
Geveke was founded in 1874 and is headquartered in Amsterdam in the Netherlands. The company has 173 employees and in 2021 the company had revenues of approximately EUR 61 mn (SEK 648 mn).
“Geveke has strong engineering capability, providing complete industrial pump solutions from concept to commissioning”, said Andrew Walker, Business Area President Power Technique.
The acquisition is an all-cash transaction utilizing Atlas Copco’s funds and is subject to regulatory approvals. The acquisition is expected to be completed during the second quarter 2022.
LEWA was founded in 1952 and is based in Germany. The company has around 1200 employees and in 2021 had revenues of EUR 233 mn (SEK 2.4bn). LEWA offers industry-specific high-quality pump solutions for a wide range of industries.
“LEWA has a long tradition of supporting customers and developing leading industrial flow technology for efficient, precise and safe handling of fluids”, said Andrew Walker, Business Area President Power Technique. “Through this acquisition we are building our presence and technology offering within positive displacement pumps.
The main part of the acquired businesses will have its base in the Power and Flow division within Atlas Copco’s Power Technique Business Area and a smaller part will have its base in the Service division within the Compressor Technique Business Area.