Gardner Denver acquires LeROI Compressors for $20 million
Gardner Denver Holdings has completed the acquisition of LeROI Compressors, a move which the company hopes will provide further access to the gas compression and vapour recovery market.
A global provider of mission-critical flow control and compression equipment, Gardner Denver Holdings has acquired LeROI Compressors for a purchase price of approximately $20 million (€17.9 million), funded with ‘cash on hand’. Sidney, Ohio based LeROI is a North American manufacturer of gas compression equipment and solutions for vapour recovery, biogas and other process and industrial applications. LeROI will become part of Gardner Denver's Industrials Segment, gaining benefits from its new parent company’s distribution network, operational framework, and global R&D capabilities.
"LeROI is a market-leading business with strong talent and excellent long-standing customer relationships," said Vicente Reynal, Gardner Denver's CEO. "This transaction is aligned with our strategy of leveraging core technologies and know-how to drive organic growth and build additional value at acquired companies. LeROI will provide mission-critical gas compression technologies and enable expansion of our product offering into new and attractive markets. We are thrilled to welcome the LeROI team to the Gardner Denver family," added Reynal.
"This marks an exciting time for the LeROI business," said Richard Wall, LeROI's President. "As part of Gardner Denver, LeROI will be better positioned than ever to continue to deliver service excellence to our customers and expand into new markets."