Atlas Copco Ltd has signed an agreement to acquire the Medical Gas Solutions business from Penlon Ltd, headquartered in the United Kingdom. Penlon Medical Gas Solutions is a leading provider of medical gas systems, medical vacuum equipment, and pipeline components for hospitals.
Penlon Medical Gas Solutions’ business had revenues in 2010 of around MGBP 12 (MSEK 120) and employed about 100 people. The parties have agreed not to disclose the purchase price. The transaction is conditional on clearance by competition authorities.
Penlon Medical Gas Solutions is headquartered in Abingdon, Oxfordshire. The company has assembly facilities in the UK and sells through distributors to over 30 countries worldwide, including the Middle East, India, China and Japan. See also the Medical Gases section of www.penlon.com (http://www.penlon.com/). The anesthesia business will remain with Penlon Ltd.
“The medical gas market is a growing segment worldwide and has an aftermarket business with a good potential. This acquisition supports Atlas Copco’s strategy of extending our medical gas offering globally and increasing revenues through aftermarket,” says Stephan Kuhn, Business Area President, Atlas Copco Compressor Technique.
The Atlas Copco Group already has a presence in the medical gas market through BeaconMedaes, which specializes in medical gas systems. With the acquisition of Penlon Medical Gas Solutions, Atlas Copco will further improve its global footprint and be a comprehensive solutions provider to worldwide medical gas customers. The business will become part of Atlas Copco Compressor Technique’s Industrial Air division and the products will be sold under the brand name Penlon Medical Gas Solutions.
Atlas Copco may be required to disclose the information provided herein pursuant to the Securities Markets Act.
Atlas Copco is an industrial group with world-leading positions in compressors, construction and mining equipment, power tools and assembly systems. The Group delivers sustainable solutions for increased customer productivity through innovative products and services. Founded 1873, the company is based in Stockholm, Sweden, and has a global reach spanning more than 170 countries. In 2010, Atlas Copco had about 33 000 employees and revenues of BSEK 70 (BEUR 7.3). Learn more at www.atlascopco.com (http://www.atlascopco.com/).
Atlas Copco’s Compressor Technique business area develops, manufactures, markets, and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems. It also offers specialty rental services. It innovates for superior productivity in applications such as manufacturing, construction, and the process industry worldwide. Principal product development and main manufacturing units are in Antwerp, Belgium.