Stockholm, Sweden — Atlas Copco has agreed to acquire Quincy Compressor from EnPro Industries Inc. for approximately $190 million. According to Atlas, the acquisition supports its growth plans for North America and China by adding a strong brand and an extensive distributor network. The acquisition is subject to regulatory approvals.
Quincy Compressor had revenues in 2008 of $174 million, with an operating profit margin of about 15%, and has approximately 400 employees. It designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, primarily under the Quincy brand. Atlas Copco said it plans to further develop the Quincy brand independently, in line with the Atlas Copco Group’s well established brand portfolio strategy.
“We look forward to working with Quincy Compressor and its strong distributor network. The strategic fit is very good and we will be able to better serve customers in the United States with an even more differentiated product portfolio,” said Stephan Kuhn, Business Area President for Atlas Copco Compressor Technique. “For Atlas Copco, this acquisition offers interesting synergies in both product design and supply chain management, while adding a strong brand for our continued growth.”
Founded in the 1920s, Quincy is headquartered in Bay Minette, AL. It has manufacturing facilities in Bay Minette, Quincy, IL, and Kunshan, China. The products are sold through a network of independent distributors and agents. More than three quarters of the sales are in the United States.
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