Sulzer to expand pumps portfolio with Ensival Moret acquisition
Sulzer is in exclusive talks to acquire pump manufacturer Ensival Moret for EUR 80 million ($86 million).
The proposed deal will close specific product gaps in Sulzer's general industry pumps portfolio, including adding axial flow pumps to its offer. Ensival Moret's business will be fully integrated into Sulzer's Pumps Equipment division.
"We are very excited with the proposed acquisition of Ensival Moret, and we are looking forward to welcoming its employees to Sulzer. Together we can grow stronger in our general industry business by serving our customers' process needs," said president of Sulzer Pumps Equipment, Cesar Montenegro.
Ensival Moret employs 730 people at its main manufacturing sites in Saint Quentin, France, and Thimister, Belgium, and facilities in Brazil and China; as well as at multiple service centres globally. The target company achieved sales of EUR 115 million ($123 million) in 2015.
The deal is expected to close in the second quarter of 2017.