Emerson, a St. Louis-based fluid automation technology and engineering company, announced plans to acquire German pneumatics technology provider Aventics from Triton for $620 million (€527 million). Emerson expects this acquisition to increase its global reach in the growing $13 billion fluid automation market, which serves the food and beverage, packaging, automotive assembly and medical equipment industries.
“This acquisition adds another strong, complementary technology portfolio into the Emerson family, creating value for our customers and more opportunities for growth,” says Emerson chairman and CEO David N. Farr.
“Aventics brings technologies, capabilities and expertise that are critical to digitalization of manufacturing, including predictive maintenance through integrated diagnostics—an important priority for our Automation Solutions business,” adds Mike Train, executive president, Emerson Automation Solutions. “We will also gain a valuable footprint in Germany, a key market for automation technology and investment.”
Peder Prahl, director of the general partner to the Triton fund, which has owned Aventics for more than four years, says this acquisition comes at a good time, considering new developments occurring in all industries.
“We view this as an appropriate time for a long-term industrial owner to continue the development of Aventics,” he adds. “This partnership will open new opportunities for both companies.”
With central offices in Laatzen, Germany, Aventics has approximately 2,100 employees globally with five manufacturing locations and 2017 sales of $425 million. The acquisition is expected to close in the fourth quarter of fiscal 2018 subject to regulatory approvals, Aventics´ finalization of necessary consultations, and other customary closing conditions.