Headquartered in Malmö, Sweden, Cardo’s Flow Solutions business had sales of approximately CHF463 million in 2010 and 1900 employees. Around 90% of Cardo Flow Solutions' sales come from the wastewater market as a full line supplier of pumps and related equipment such as lifters, mixers, aerators, compressors, control and monitoring equipment and services.
Water and wastewater will now become one of Sulzer’s key markets, accounting for approximately 16% of total Sulzer sales.
“Cardo’s Flow Solutions business with its complete pumping solutions for the wastewater market and its committed employees provides an excellent strategic fit for Sulzer,” said Ton Büchner, CEO of Sulzer. “With the intended acquisition of this strong supplier in the attractive wastewater pumps market, Sulzer will be able to benefit from the attractive long-term growth of this market.”
The acquisition is expected to close in the second half of 2011. Sulzer expects transaction costs of CHF10 million and integration costs of CHF25 million over three years.