Sulzer completes Cardo acquisition

Swiss industrial group Sulzer has completed the acquisition of Cardo Flow Solutions, the Swedish group that owns the ABS, Pumpex and Scanpump brands.

Sulzer is paying SEK 5.9 billion (€637 million) in cash and said the deal would make it a leading player in the "highly attractive wastewater pump market" and further strengthen its global position as a supplier of pumps and related services to general industry. Cardo will be integrated within Sulzer Pumps.

Water and wastewater will now represent around 16% of Sulzer's annual sales.

"The wastewater market offers growth potential in both mature and emerging markets, driven by long-term trends such as population growth, increasing water consumption, urbanization, and environmental protection", said Sulzer.

Sulzer said there was a strong growth opportunity driven by "global geographic expansion and continued technological development of complete pumping solutions, good aftermarket opportunities by leveraging Sulzer's existing service network, and cross-selling opportunities with the combined product offering."