Acquisition aimed at further strengthening Grundfos’ business in global water treatment market
Grundfos, a global company for advanced pump solutions and water technologies, has entered into an agreement to acquire Mechanical Equipment Company, Inc. (MECO).
Based in the United States, MECO is a company in the industrial water treatment market with manufacturing and sales offices in the U.S. as well as international offices in Singapore and Ireland. The company has a strong presence in water treatment, and a global leading position in water purification for the pharmaceutical market, owing to its proprietary vapor compression technology, deep application knowledge and experience, and proven ability to offer reliable solutions to customers.
This acquisition, which is pending regulatory approvals, will further expand Grundfos’ water treatment capabilities and strengthen Grundfos’ position as a global provider of water treatment solutions that address the world’s water and climate challenges and improve the quality of life for people. When completed, it will represent the second such transaction since November 2020, when Grundfos acquired Eurowater, a supplier of decentralized water treatment equipment and solutions in Europe.
“We see Grundfos and MECO as a perfect fit and we are thrilled with the prospect of acquiring MECO. MECO is a highly respected water treatment company with a formidable, focused skillset and portfolio of water treatment solutions," said Ulrik Gernow, group executive vice president and chief commercial officer for Grundfos. "This acquisition is about much more than superior technology. Grundfos and MECO are founded on similar values, and we share a deep commitment to innovation and sustainability as well as a genuine care for our customers and employees. Together, we will leverage our combined experience and skills to create even better solutions for our customers."
“The prospect of joining the global Grundfos family is something that I am very excited about," said George Gsell, MECO CEO. "Grundfos is the ideal new owner for our company. I see an exceptionally solid match grounded in common values, our common customer-centric approach, and ambitions to make a significant difference in the field of water. As part of the Grundfos Group, we will continue strengthening our ongoing innovation, providing value-added services to customers, as well as our commitment to offering high-quality products designed with sustainability in mind."
The transaction is expected to close during autumn 2021, subject to regulatory approvals.