Krones acquires 90% stake in Ampco Pumps
In the 2022 fiscal year, Ampco Pumps generated with a workforce of more than 130 employees revenue of approx. $50m and a high EBITDA margin.
“The transaction will increase the profitability margin of the “Process Technology” segment as well as the group margin of Krones,” says Krones, the German processing and packaging specialist (which caters for a wide range of customers including breweries; water, soft drink and juice manufacturers; dairies; wine producers; and companies from the liquid-food field).
Current Ampco management will remain and will continue to hold 10% of the shares of Ampco; while Krones has an option to buy the 10% of the shares in the future.
“The acquisition of Ampco Pumps is a major step in expanding the components business of Krones Processing. With Ampco Pumps and Evoguard Valve Technology Krones has now a broad portfolio of all key components for the processing technology market,” continues Krones. “In addition, the businesses of the two companies complement each other perfectly in regional terms.”
The transaction is expected to close within the first half of 2023.