Pneumatic technology company acquired by process manufacturer
Emerson (NYSE: EMR) announced it has agreed on terms to acquire Aventics from Triton for €527 million. Aventics specializes in smart pneumatics technologies for machine and factory automation applications. Emerson specializes fluid automation technologies for process and industrial applications and the purchase of Aventics is intended to expand the company’s reach in this growing $13 billion market.
The purchase is also intended to build upon and strengthen Emerson’s capabilities and solutions in key discrete and hybrid automation markets, including food and beverage, packaging, automotive assembly, and medical equipment.
With central offices in Laatzen, Germany, Aventics has approximately 2,100 employees globally with five manufacturing locations and 2017 sales of $425 million.
The acquisition is expected to close in the fourth quarter of fiscal 2018 subject to regulatory approvals, Aventics’ finalization of necessary consultations and other customary closing conditions.
– Edited from an Emerson press release by CFE Media. See more Control Engineering process manufacturing stories.