Atlas Copco acquires Italian pump manufacturer
By Andrew Macklin
December 10, 2015 – Atlas Copco has agreed to acquire Varisco, an Italian pump manufacturer with a global sales network.
Varisco is based in Padua near Venice, Italy, and had revenues in 2014 of 30 million euros ($44.6 million CDN). It employs about 135 people. Founded in 1932, Varisco is known around the world for the design and manufacture of high-quality pumps used by a wide range of customers. The pumps are typically used to remove unwanted water or other liquids in the construction, mining, and oil and gas industries; they are also used in industrial process plants and for emergency services in case of floods.
“The pump business is a focused growth segment for us,” said Andrew Walker, president of Atlas Copco’s Construction Technique business area. “Varisco’s outstanding products and customer base make this an attractive acquisition.”
Varisco will become part of the Portable Energy division in the Construction Technique business area. The acquisition is expected to be completed shortly. The parties have agreed not to disclose the purchase price.