Atlas Copco AB (Stockholm, Sweden; www.atlascopco.com) and Edwards Group Ltd. have entered into an agreement where Atlas Copco will acquire Edwards, a global supplier of vacuum and abatement solutions, for an amount of up to $1.6 billion. Edwards is a technology and market leader in sophisticated vacuum products and abatement solutions with more than 90 years of experience. Edwards has more than 3,200 employees and is headquartered in Crawley, U.K. The acquisition is an all-cash transaction utilizing Atlas Copco’s existing own funds.
The transaction, which will be completed by way of a merger, is subject to customary closing conditions including Edwards shareholder approval and antitrust clearance. It has been unanimously approved by the Boards of Directors of both companies. Further, the Board of Directors of Edwards unanimously recommends the offer to all Edwards shareholders. The transaction is expected to close in the first quarter of 2014. Edwards will be part of Atlas Copco’s new Vacuum Solutions division within the Compressor Technique business area.