Emerson to acquire Aventics
Emerson has agreed to acquire Aventics, a smart pneumatics technology provider, from Triton for EUR527 million (AU$820 million).
The fluid automation technology and engineering company expects the acquisition will help expand its reach in the growing $13 billion market, building on its solutions in key discrete and hybrid automation markets, such as food and beverage, packaging, automotive assembly and medical equipment.
“We will now offer the industry’s widest range of fluid automation products and solutions with unmatched delivery, reliability and performance, and now with the addition of Aventics’ expertise, Emerson is positioned to be the most capable global company when it comes to fluid automation technologies,” said Emerson Chairman and Chief Executive Officer David N Farr.
He continued by stating the acquisition adds another complementary technology portfolio into the Emerson family, which will provide more opportunities for growth.
“Aventics brings technologies, capabilities and expertise that are critical to digitalisation of manufacturing, including predictive maintenance through integrated diagnostics, an important priority for our Automation Solutions business,” explained Mike Train, Executive President at Emerson Automation Solutions.
Aventics has central offices in Laatzen in Germany, about 2100 employees worldwide, five manufacturing locations and 2017 sales of $425 million. The acquisition will therefore help Emerson expand its global reach and gain a valuable footprint in Germany, which is “a key market for automation technology and investment”, according to Train.
Peder Prahl, Director of the General Partner to the Triton fund, said the deal will benefit all parties involved.
“Triton has been the owner of Aventics for more than four years and we view this as an appropriate time for a long-term industrial owner to continue the development of Aventics. Emerson is an ideal partner for Aventics going forward with an ideal cultural fit. This partnership will open new opportunities for both companies.”
The acquisition is expected to close in the fourth quarter of fiscal 2018 subject to regulatory approvals, Aventics’ finalisation of necessary consultations and other customary closing conditions.
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