Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire FIAC, an Italian manufacturer of piston compressors and related equipment with a global sales network.
FIAC is based in Bologna, Italy, and has approximately 400 employees. The company offers a broad range of piston compressors, air treatment products, and spare parts. Founded in 1977, FIAC has production sites in Italy, China and Brazil, and sells to more than 110 countries. It had revenues in 2014 of about EUR70 million.
“FIAC stands for very high quality compressed air products, and this acquisition will strengthen our product portfolio and expertise especially for piston compressors,” said Nico Delvaux, President of Atlas Copco’s Compressor Technique business area. “We are adding another strong brand to our brand portfolio.”
The FIAC compressors are used by a wide range of industrial and professional customers including small and medium sized businesses; from car repair shops to manufacturing companies.
The acquisition is subject to regulatory approvals and is expected to be completed during 1Q16. The parties have agreed not to disclose the purchase price. FIAC will become part of the new Professional Air division in the Compressor Technique business area that Atlas Copco will create after the completion of the acquisition.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/product-news/26012016/atlas-copco-to-acquire-italian-pumps-manufacturer-fiac-2273/