Swedish-based Atlas Copco has agreed to acquire Varisco, an Italian pump manufacturer with a global sales network.
Varisco is based in Padua near Venice, Italy, and in 2014 it recorded revenues of €30 million. The company was founded in 1932 and now employs around 135 people. It is known for the design and manufacture of pumps which are typically used to remove unwanted water or other liquids in the construction, mining, and oil and gas industries. They are also used in industrial process plants and for emergency services in case of floods.
Andrew Walker, president of Atlas Copco’s Construction Technique business area, said, “The pump business is a focused growth segment for us. Varisco’s outstanding products and customer base make this an attractive acquisition.”
Varisco will become part of the Portable Energy division in the Construction Technique business area. The acquisition is expected to be completed shortly. The parties have agreed not to disclose the purchase price.