Grundfos Pumps have just announced the acquisition of the Peerless Pump Company. Peerless are an American pump and fire systems manufacturer. The company HQ is in Indianapolis and they have 5 other facilities in North America. They employ 400 people and have a turnover of USD 110 million.
This the latest and largest acquisition that Grundfos, the Danish pump giant, have made to date and underlines the company’s aggressive growth strategy.
By adding Peerless to their portfolio Grundfos now have high-end products that are recognised as one of the two most recognised water pump brands currently in the US. It is expected that the Peerless fire protection systems will offer wider global opportunities.
This purchase is yet another part of the overall Grundfos plan to augment their offering both locally and globally. In tandem with this the Group still continues to invest 4% of their total sales in R&D each year.
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