Acquisitions · Industrial equipment (air compressors)
Hitachi buys US air compressor maker Sullair for $1.245 billion
- Buyer
- Hitachi (Tokyo)
- Target
- Sullair (from Accudyne Industries), Michigan City, Indiana
- Value
- $1.245B (about ¥135.7B)
- Status
- Agreed on April 25, 2017; completed in July 2017.
- Date
- 2017-04-25
Hitachi agreed to buy Sullair, a US maker of air compressors, from Accudyne Industries for $1.245 billion, or about ¥135.7 billion, subject to adjustments for working capital and net debt. Sullair has a plant in Michigan City, Indiana. Hitachi called the deal a full-scale entry into the North American industrial business.
Why it matters
The deal gives Hitachi a sales network in North America for its own compressors and a customer base for its digital services for industry.
About Sullair
Sullair was founded in 1965 and sells air compressors around the world, with its sales network mainly in North America. Accudyne Industries sold Sullair's subsidiaries and related assets to Hitachi.
Hitachi's plan
Hitachi said it would use Sullair's sales network to sell its own air compressors in North America and grow the scale of its compressor business. It also planned to offer Sullair's customers digital and Internet of Things products as part of its Social Innovation Business.
Sources
Kakehashi M&A News home
