Hitachi to buy air compressor unit of Accudyne Industries for $$1.245 bn
25 Apr 2017
Japanese multinational conglomerate Hitachi Ltd today struck a deal to buy the air compressor unit called Sullair by Accudyne Industries for $1.245 billion.
Sullair is a major manufacturer of portable and stationary rotary screw air compressors designed for commercial and industrial use.
Founded in Michigan City, Indiana in 1965, Sullair has been a leader in compressed air technologies for over 50 years.
One of the first companies to execute rotary screw technology in their air compressors, Sullair machines are globally renowned for their legendary durability and built to comply with ISO 9001 requirements.
It has manufacturing facilities in Michigan City, Suzhou, Jiangsu, and Shenzhen, Guangdong China.
Accudyne, a global manufacturer of industrial pumps and compressors, is owned by two private equity firms, The Carlyle Group and BC Partners.
Hitachi said that its goal of the acquisition is to gain access to Sullair's global sales network, mainly in North America.
''I am very pleased to announce that Hitachi has today agreed with Accudyne to proceed with the acquisition of Sullair, a leader in air compressor business. Through this fusion with Sullair's strengths, Hitachi will increase its competitiveness and strengthen the air compressor business,'' said Mazakazu Aoki, executive VP at Hitachi.
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