Grundfos in Eurowater acquisition
- June 15, 2020
- Posted by: Elaine Coles
- Category: Companies, Investment and Finance, Europe
Grundfos has announced that it has entered into an agreement to acquire Eurowater, significantly strengthening its value proposition within the water treatment business.
The acquisition aligns closely with Grundfos’ strategy to strengthen its innovation leadership within water technology, and supports the company’s purpose to pioneer solutions to the world’s water and climate challenges and improve the quality of life for people.
“Eurowater brings a broad portfolio of solutions and a deep understanding of water treatment applications and end-users. This will enable us to strengthen our value proposition to customers. When complete, this acquisition will further advance us in our important work to address water challenges on a global scale,” says Ulrik Gernow, Group Executive Vice President, CMO, at Grundfos and continues: ”Eurowater is an outstanding company and we are truly impressed by its organization and the people we have met”.
The Eurowater and Grundfos businesses share many similarities, including a sharp focus on innovation and offering high-quality products and value-added services to customers. Culturally, the two organisations match well, both being purpose-driven and highly customer-centric.
Torben Buhl, Managing Director for Eurowater added:
“It is with peace of mind that we leave ownership of our life’s work to Grundfos. We took over the company 17 years ago from the Scherfig family, who has owned the company since its foundation in 1936. With the global reach and presence of Grundfos and our extensive experience in producing first class products, we see great opportunities to boost the development of innovative and water efficient solutions to the benefit of our many customers,” says
Headquartered in Denmark, Eurowater serves primarily the European markets with a range of water treatment offerings, with a focus on customers in the industrial and municipal sectors.
The transaction is subject to regulatory approvals and is expected to be closed during autumn 2020.