The company, Runtech Systems Oy, specialises in turbo vacuum technology systems and optimisation solutions across a range of process-orientated markets.
Local press is reporting that the transaction totalled about $93 million (€74.4 million).
Vicente Reynal, Gardner Denver’s CEO, commented on the acquisition in a statement: “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.”
Kimmo Loippo, Chairman and co-founder of Runtech said in the same press release: “Both companies are aligned, with an entrepreneurial mind-set and a passion for developing innovative customer focused solutions.”
“Together our combined capabilities will further expand the technology to broader flow control, vacuum and pressure solutions for the betterment of our customers.”
Gardener Denver provides flow technology and offers support services. The company has 38 manufacturing facilities and about 6,400 employees worldwide. It offered stock for the first time in 2017 with an IPO in May at $20 (€16.02) per share and a second offering of general stock in November the same year.