Newsline

Grundfos Group Acquires Peerless

DENMARK - The Grundfos Group acquired Peerless Pump Co., Indianapolis. The U.S.-based manufacturer of pumps and fire protection systems has a total of six North American facilities. With more than 400 employees and annual sales of $110 million, Peerless is Grundfos’ largest acquisition to date. Grundfos is continuing its aggressive growth strategy in North America.

“Recently we have focused on growing our business globally, especially in Eastern Europe, Asia, and North America,” said Carsten Bjerg, group president and CEO of Grundfos Group. “The U.S. market has a significant growth potential, and seen in that perspective, the acquisition of Peerless is of great strategic importance to Grundfos. Combined with the continued expansion of our R&D facilities and production capacity in North America, this acquisition is crucial to strengthening our U.S. market position.”

Dean Douglas, president and CEO of Peerless, said, “We see Grundfos’ acquisition of Peerless as an extremely positive move for our customers as well as for the future security and continued development of our employees, of Peerless Pump itself, and our worldwide sales network. The synergies between our organizations are significant and will allow Peerless to accelerate the rapid growth we have enjoyed over the past few years.”

In 2004, the Grundfos Group announced its strategy for North America. Since then the group has made a number of strategic investments. As a result, employment has increased from 530 to more than 1,200 and sales have grown from $144 million to $410 million including the Peerless acquisition.

For more information, visit www.grundfos.com.

Publication date: 12/17/2007

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 World Energy Engineering Congress

Scenes from the 2014 World Energy Engineering Congress in Washington, D.C.

Podcasts

NEWSMakers: Greenheck Mixed Flow Fan, Model EQB

Shane Dock, Application Engineer at Greenheck, will introduce you to Greenheck’s new EQB mixed flow fan. We’ll discuss what the features of the EQB’s innovative design, what kinds of applications can utilize the EQB, and why the EQB is an attractive inline choice for your customers’ projects.  Dock is currently focused on applications regarding inline fans, gravity ventilators, and electrical products. Posted March 4th.

Sponsor:



 

More Podcasts

ACHRNEWS

NEWS 03-02-15 cover

2015 March 2

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HVAC Trends

The NEWS regularly reports on HVAC industry trends in our weekly issues. What trends do you see?
View Results Poll Archive

HVACR INDUSTRY STORE

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con