Sulzer starts talks on €80m Ensival Moret acquisition
Pump expert Sulzer has entered into exclusive discussions with Moret Industries to acquire the pump manufacturer Ensival Moret (EM) at a proposed price of €80 million.
EM, whose main manufacturing facilities are based in Saint Quentin, France, and Thimister, Belgium, achieved sales of €115 million in 2015 and has currently about 730 employees.
The company also operates manufacturing facilities in Brazil and China, as well as multiple service centres across the globe.
EM offers a wide range of industrial pumps for a broad range of industrial applications such as fertilisers, sugar, mining, and chemicals.
The proposed transaction allows Sulzer to close specific product gaps in its general industry pumps portfolio, such as axial flow pumps.
Combining the complementary product portfolios enables Sulzer to become a full line supplier in most industrial process applications.
The business will be fully integrated into Sulzer’s Pumps Equipment division and will generate significant synergies by leveraging scale and cross-selling opportunities.
The proposed transaction will be submitted to the relevant workers’ councils and it will be subject to customary closing conditions, with closing expected in the second quarter of 2017.