Gardner Denver Holdings Inc. (NYSE: GDI), a leading global provider of mission-critical flow control and compression equipment, announced that it has acquired Runtech Systems Oy for a net purchase price of approximately $93 million funded by cash on hand. Based in Kolho, Finland, Runtech is a leading global manufacturer of turbo vacuum technology systems and optimization solutions for use in a variety of process-oriented industrial end markets. Runtech will be part of Gardner Denver’s Industrials Segment.
“Runtech is a market-leader with a history of innovation, excellent customer relationships and strong talent with deep market expertise,” said Vicente Reynal, Gardner Denver’s CEO. “This transaction is aligned with our strategy of leveraging core, mission-critical technologies to drive growth and build additional value at acquired companies. Runtech’s technology will enable expansion into new and attractive markets. It is a great addition to the Gardner Denver family,” added Reynal.
“This is an exciting time for our customers and employees,” said Kimmo Loippo, Chairman and co-founder of Runtech. “Both companies are aligned, with an entrepreneurial mindset and a passion for developing innovative customer-focused solutions,” added Loippo. Juha Karvinen, co-founder and developer of EcoFlow™ and Eco-Pump™ said, “Together our combined capabilities will further expand the technology to broader flow control, vacuum and pressure solutions for the betterment of our customers.”
For more information, visit: www.gardnerdenver.com