Piping, Interpump Group acquires GS-Hydro

The Italian Interpump Group expands its hose & fittings business with the addition of piping systems, announcing the signing of a binding agreement for the acquisition of the international assets of Finland-based GS-Hydro group. The group design and realizes piping systems in the industrial, marine and offshore sectors, and is the inventor of the ‘non-welded’ pipe assembly technology. This technology, clean and time-efficient, guarantees better technical performance and ease of operations, as well as improving the environmental impact, being thus especially useful in continuous or extreme working conditions.

For an agreed price of 9 million euro, the operation envisages the acquisition of subsidiaries in UK, Spain, Austria, Germany, Denmark, Benelux, Poland, Sweden, USA, China, South Korea, Singapore and Brazil, as well as the manufacturing unit of the Finnish head company GS-Hydro Oy, including intellectual property and international certifications. Total consolidates sales for 2017 in the perimeter indicated above are expected to amount approximately 60 million euro, with an ebitda of around 4 million. The closing of acquisitions in each and every country is expected by the end of February 2018.

The seller, controlled since year 2000 by private equity funds, is currently undergoing a bankruptcy procedure, that doesn’t encompass the subsidiaries being acquired, which are normally operational and overall profitable.

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