Wednesday, July 25, 2012

News: AES in Danish deal


AESPUMP, a subsidiary of Rotherham-based AES Group, has confirmed the acquisition of Ultimate Vacuum ApS, a specialist vacuum pump sales company in Denmark.

In 2010, Templeborough's AES Engineering Limited acquired Bedford-based competitor, Ceetak Engineering Group and created a new division specialising in the total management and support of pumps and other rotating equipment installed on applications ranging from the chemical and pharmaceutical industries to food and waste management.

The new Danish deal follows an acquisition of another competitor, Absolute Vacuum for an undisclosed sum, in February.

Ultimate Vacuum is an independent supplier of vacuum pumps, spares and other vacuum industry related products to the Danish and Scandinavian markets. The company is an official distributor for leading global vacuum equipment suppliers such as Edwards Vacuum, MKS Instrument and MPF Products.

Ian Wallace, managing director at AESPUMP, said: "Ultimate Vacuum has an excellent reputation for customer service across Scandinavia and therefore not only provides an excellent cultural fit for AES, it also offers a fantastic opportunity to start building the business overseas."

Kevin Cunningham, corporate partner at the Sheffield office of national law firm Irwin Mitchell, advised AESPUMP on the deal. He said: "AESPUMP is a dynamic and fast-growing part of the AES Group. Ultimate Vacuum gives AESPUMP an excellent platform for further growth in Europe."

In its annual results to 31 December 2011, AESSEAL reported that sales were up 19.5% to £123.9m and EBITDA (earnings before tax) was £22.8m, up 22.9%.

The company, which is backed by international investors, 3i, enjoyed a rise in operating profit to £18.2m.

AESSEAL website



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