Atlas Copco, a leading provider of sustainable productivity solutions, has closed the acquisition of Edwards Group Ltd., headquartered in the United Kingdom.
Edwards is a technology and market leader in sophisticated vacuum products and abatement solutions. The products and services are integral to manufacturing processes, such as for semiconductors and flat panel displays, and are used within an increasingly diverse range of industrial applications.
Following the acquisition Edwards will be delisted from the NASDAQ stock exchange. Atlas Copco has initially paid Edwards shareholders $9.25 per share. Once Edwards’s audited 2013 income statement is final, an additional payment of up to $1.25 per share will be made, corresponding to a maximum total of $10.50 per share.
Edwards’s 2013 income statement is estimated to be ready before the end of the first quarter of 2014.
The acquired business is now part of Atlas Copco’s new Vacuum Solutions division in the Compressor Technique business area.