Japan’s Ebara Corp is acquiring Turkish pump manufacturer Vansan Makina Sanayi ve Ticaret AŞ in a US$108 million deal.
Ebara has executed a stock purchase agreement to acquire all outstanding shares of Çiğli Su Teknolojileri AŞ, the parent company of Vansan Makina Sanayi ve Ticaret and Vansan Makina Montaj ve Pazarlama AŞ.
Izmir-based Vansan manufactures and sells deep well motor pumps and vertical-type pumps. The company had 2019 net sales of approximately US$64 million and employs around 576 people.
With the acquisition of Vansan, Ebara says it will be able to enhance its global supply chain by strengthening access to markets in Europe, Central Asia, the Middle East and Africa to further expand the company’s standard pumps business.
The acquisition of Vansan is expected to be completed by the end of March 2021.