Atlas Copco has completed its acquisition of Quincy Compressor from EnPro Industries. The acquisition includes facilities in Bay Minette, AL; Quincy, IL; and in Kunshan, China, however, the acquisition of Quincy’s Chinese operations is still pending, while the company awaits regulatory approvals from relevant local authorities.
The acquired business had 2009 revenues of $125 million and an operating profit margin of approximately 7%. Terms of the deal were not disclosed.
Bay Minette, AL-based Quincy Compressor was founded in the 1920s and designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, primarily under the Quincy brand. Quincy products are sold through a network of independent distributors and agents. More than three quarters of the company’s sales are in the United States.
Atlas Copco said it plans to further develop the Quincy brand independently, in line with the group’s current brand portfolio strategy.
“I am pleased that we have obtained the approvals in the United States and can now move forward to further develop the Quincy business,” said Stephan Kuhn, president of Atlas Copco’s Compressor Technique division.
Approvals from Chinese authorities are expected during the second quarter.