SPX unveils new acquisition, highlights processing as key to growth
The US-based company said it expected to close the deal to take over Anhydro A/S and Anhydro Holding A/S by the end of the third quarter. Financial details were not disclosed.
Anhydro is a Denmark-based global player in the liquid concentration equipment and supplies powder processing solutions, as well as dewatering systems and plants for dairy, food, starch producers, pharmaceutical and chemical industries worldwide.
SPX, of North Carolina, hailed its processing segment as a vital component to fuelling growth and indicated the latest takeover was part of this strategy.
"Our process equipment business continues to be a key component of our growth strategy and this acquisition helps strengthen our global food, pharmaceutical and processing technology equipment offerings and systems capabilities," said SPX chairman, president and CEO Christopher J. Kearney. "The addition of Anhydro's dry processing technology broadens our current systems capabilities beyond liquid applications, allowing us to further enhance our competencies in delivering comprehensive processing solutions to our customers."
Growth strategy
The takeover of the Danish company, with 225 employees, is expected to generate a full-year return of €85m. SPX said the buyout included all of the Soeberg-based firm’s business units excluding its Danish Filter business, Simatek A/S, and its German, U.K., and US operations, as well as other individual projects.
Anhydro chief Jens Logstrup said the company had performed well through the global recession and that the takeover would lead to further growth for the company.
This is SPX’s second acquisition of a Danish processing company this year. In February it announced it had completed the takeover of Gerstenberg Schroder in February 2010 in order to expand its global share of the markets for food processing technology. Speaking then, the firm forecast the acquisition would boost their ability to provide turnkey, scalable food processing systems.
“Food manufacturers are increasingly seeking these kinds of systems to help optimise the production quality, efficiency, reliability and scale of their operations," said Kearney.
