IPV is based in Dresden in Germany. The company had revenues of approximately MEUR 5 (MSEK 50) in 2017 and around 20 employees.
The main market for IPV is the chemical industry. "The industrial segment is key for us in order to further grow our pumps business," said Andrew Walker, Business Area President Power Technique. "The acquisition will strengthen our presence in the north west of Europe".
The purchase price is not material relative to Atlas Copco's market capitalization and is not disclosed.
The acquired business will become part of Atlas Copco's Power and Flow division in the Power Technique business area and legally be part of the Atlas Copco German holding company, Atlas Copco Holding GmbH.
In the picture, left to right: Massimo Scapolo - GM Varisco's customer center, Maik Graumuller - owner IPV, Adrian Ridge - President Power and Flow and Wim Moors - vice-president marketing Flow