Gardner Denver, Inc. Announces Agreement to Acquire CompAir
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Strategic Acquisition Adds Depth to Gardner Denver's Operations Worldwide# Y$ U# t1 R' e, |
QUINCY, IL, Jul 21, 2008 (MARKET WIRE via COMTEX News Network) -- Gardner Denver, Inc. (NYSE: GDI) announced today that it has entered into separate share purchase agreements with the holders of 100 percent of the outstanding shares of CompAir Holdings Limited ("CompAir"), a leading global manufacturer of compressed air and gas solutions. The acquisition places a total enterprise value of the business at GBP 197.5 million (approximately $395 million), to be paid through a combination of cash and the assumption of existing CompAir debt. The transaction is expected to close in the fourth quarter of 2008.