Groupe Laperriere & Verreault Inc (GLV) has made what it says is one of its largest ever acquisitions with its purchase of Krebs International Inc, a designer, manufacturer of horizontal slurry pumps and liquid/solid separation equipment for a wide variety of applications and industries, mainly metals and minerals processing.

GL&V will acquire all the share capital of Krebs, based in Tucson , Arizona , along with its six wholly-owned subsidiaries in Australia, Brazil, Chile, Austria, South Africa and China, as well as sales and engineering offices located in various areas in the United States and in the Philippines and the United Kingdom. The transaction will be completed for a cash consideration of US$98 million and the assumption of a US$12 million debt (net of the cash position), subject to certain adjustment clauses.

Krebs' revenues have posted a 33% average annual growth over the past three years, and the company has a substantial and highly profitable operational base in the aftermarket, according to Laurent Verreault, chairman and CEO of GL&V. "Considering Krebs' growth track record in recent years and its current order backlog, we estimate that it will provide GL&V with additional revenues of approximately US$110 million during the first full year," he said.

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