Atlas Copco has agreed to acquire the vacuum business of OC Oerlikon Corporation AG, for a total enterprise value of €486m (MSEK 4520).
Oerlikon, founded in 1850, is based in Switzerland and listed on the SIX Swiss Exchange. Atlas Copco has agreed to acquire the vacuum segment of the company, Oerlikon Leybold Vacuum. The vacuum business is headquartered in Cologne, Germany, has about 1600 employees, and had revenues in 2014 of MCHF 390 (MEUR 358, MSEK 3335).
Nico Delvaux, President of Atlas Copco’s Compressor Technique business area, says: “Leybold will strengthen our technology platform for superior vacuum solutions. We welcome a very knowledgeable workforce with a long history.”
Oerlikon Leybold Vacuum’s vacuum products are used to create clean, particle-free environments for such applications as automotive, metallurgy, coating of microchips, and the manufacturing of analytical instruments. The acquisition of Oerlikon Leybold Vacuum follows Atlas Copco’s acquisition in 2014 of Edwards Group Ltd., which was the Group’s first major step into the vacuum business.
The acquisition is an all-cash transaction utilising Atlas Copco’s existing funds, and is subject to regulatory approvals. The acquisition is estimated to be completed in the first half of 2016. The acquired business will become part of Atlas Copco’s Vacuum Solutions division in the Compressor Technique business area.