AxFlow Holding AB has bought Induchem Group, an Irish specialist provider of fluid handling solutions including valves, pipe solutions, mixers, pneumatics and pumps.
Founded in 1982 and headquartered in Cork, Induchem has operations in Ireland and the UK.
Induchem serves a wide range of market segments including pharma, power generation, chemicals, petrochemical, design and engineering.
Induchem has two main sources of revenue: investment driven projects (both green and brown field investments); and maintenance repair operations (MRO). In the aftermarket and MRO, its focus is on high purity, pneumatics, instrumentation, engineered services, process and corrosion resistance.
Under AxFlow ownership, Induchem will continue to operate as a separate company with its own brand.
“The acquisition is in line with AxFlow Group’s strategy of adding valves to its existing positive displacement pump portfolio with the aim of having the capabilities to build larger systems, to extend the service support and grow its geographical presence in existing markets,” said Ole Weiner, CEO of AxFlow Holding. “Induchem has long-standing relationships with leading international valve and process equipment manufacturers and this will open up future expansion opportunities for other AxFlow distribution companies in Europe.”
“Induchem and the AxFlow Group have several similarities, not least of these being that they are family businesses. Induchem’s owner and managing director David Carroll is the 2nd generation in the company and has grown up with the company, whilst AxFlow is part of Axel Johnson Group a 5th generation family business,” added Weiner.
Commenting on the acquisition Induchem managing director David Carroll said: “The acquisition provides potential synergies from significant opportunities with our existing supply chain and the introduction of new suppliers and expansion of the fluid handling offering. Induchem’s Irish and UK entity complements AxFlow existing business very well with regards to market industry segments, regional presence, service offering and product offering.”
“This significant development will enable us to offer an unrivalled range of products and services to the marketplace therefore adding value and real benefits to our customers,” said AxFlow Ireland’s managing director Stuart Flood.