Gardner Denver Inc officials announced January 5 that they had completed their acquisition of Syltone plc, which includes the Drum and Emco Wheaton brands. Holders of more than 96% of the outstanding shares of Syltone accepted the Gardner Denver offer, valued at $79.1 million.
While there may be some product rationalization, Gardner Denver plans to maintain the Drum and Emco Wheaton structures, according to Helen Cornell, vice-president of strategic planning and operations support at Gardner Denver.
“The Syltone lines complement Gardner Denver products,” she said. “We don't want to do anything that would weaken the Drum and Emco Wheaton brands.”
Gardner Denver, with 2002 revenues of $418 million, is a leading manufacturer of reciprocating, rotary, and vane compressors and blowers for various industrial applications and pumps used in petroleum and industrial markets.
The Drum product line includes hydraulic systems, hydraulic oil coolers, stainless steel and vacuum pumps, blowers, and compressors. Emco Wheaton makes a wide range of petroleum handling equipment, including internal valves for tank trailers and loading rack systems.