Gardner Denver acquires Runtech Systems
Gardner Denver, a leading global provider of mission-critical flow control and compression equipment, has acquired Runtech Systems for a net purchase price of approximately $93 million funded by cash on hand.
Based in Kolho, Finland, Runtech is a leading global manufacturer of turbo vacuum technology systems and optimization solutions for use in a variety of process-oriented industrial end markets. Runtech will be part of Gardner Denver’s Industrials Segment.
“Runtech is a market-leader with a history of innovation, excellent customer relationships and strong talent with deep market expertise,” said Vicente Reynal, Gardner Denver’s CEO. “This transaction is aligned with our strategy of leveraging core, mission critical technologies to drive growth and build additional value at acquired companies. Runtech’s technology will enable expansion into new and attractive markets. It is a great addition to the Gardner Denver family,” added Reynal.
“This is exciting time for our customers and employees,” said Kimmo Loippo, Chairman and co-founder of Runtech. “Both companies are aligned, with an entrepreneurial mind-set and a passion for developing innovative customer focused solutions,” added Loippo. Juha Karvinen, co-founder and developer of EcoFlow™ and Eco-Pump™ said, “Together our combined capabilities will further expand the technology to broader flow control, vacuum and pressure solutions for the betterment of our customers.”