Milwaukee-based Gardner Denver Holdings Inc. has acquired Kolho, Finland-based Runtech Systems Oy for about $93 million in cash on hand.
Runtech makes turbo vacuum technology systems and optimization solutions used in process-oriented industrial applications, especially by tissue, board, paper and pulp machines.
Gardner Denver makes flow control and compression equipment and aftermarket parts for mission-critical applications, such as drilling pumps and fracking valves, in the industrial, energy and medical sectors. It has about 6,400 employees working at more than 38 manufacturing plants and more than 30 service and repair centers across the world.
Runtech will be integrated into Gardner Denver’s Industrials division. The acquisition is expected to expand Gardner Denver’s capabilities and technology in flow control, vacuum and pressure solutions.
“Runtech is a market-leader with a history of innovation, excellent customer relationships and strong talent with deep market expertise,” said Vicente Reynal, chief executive officer of Gardner Denver. “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.”
“This is 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.
A representative of Gardner Denver could not immediately be reached for additional information.
