Industrial Utility Efficiency    

Gardner Denver Acquires MP Pumps

Gardner Denver Holdings Inc., a leading global provider of mission-critical flow control and compression equipment, announced it has acquired MP Pumps, Inc. for a net purchase price of approximately $58 million funded by cash on hand.

Based in Fraser, Michigan, MP Pumps is a leading manufacturer of specialty industrial pumps and associated aftermarket parts for use in a variety of industrial end markets. MP Pumps will be part of Gardner Denver’s Industrials Segment.

“MP Pumps complements and expands Gardner Denver’s existing specialty industrial pump offering and provides increased access to and expertise in the market,” said Vicente Reynal, Gardner Denver’s CEO. “The acquisition of MP Pumps is another important step in our strategy to drive ongoing profitable growth by leveraging core, mission critical technologies in attractive end markets.”

“Lionheart Industrial Group is pleased to have owned MP Pumps for the last decade and help guide its growth through strategic and operational value improvement. We are excited for the future of the company, and its employees, under the stewardship of Gardner Denver,” said David S. Bovenizer, CEO of Lionheart.

Greg Peabody, President of MP Pumps, said, “As part of Gardner Denver, we will be able to leverage an expanded commercial and operational footprint as we continue to deliver high quality products and services to our customers.”

 

About Gardner Denver

Gardner Denver (NYSE: GDI) is a leading global provider of mission-critical flow control and compression equipment and associated aftermarket parts, consumables and services, which it sells across multiple attractive end-markets within the industrial, energy and medical industries. Its broad and complete range of compressor, pump, vacuum and blower products and services, along with its application expertise and over 155 years of engineering heritage, allows Gardner Denver to provide differentiated product and service offerings for its customers' specific uses. Gardner Denver supports its customers through its global geographic footprint of 39 key manufacturing facilities, more than 30 complementary service and repair centers across six continents, and approximately 6,700 employees world-wide. For more information, visit www.gardnerdenver.com.