Applied aims at strengthening the service networks of Aalberts to enhance their presence.
Aalberts N.V., the Netherlands-headquartered technology company, has reportedly announced the acquisition of Applied Process, which is based in three locations in the USA, Wisconsin, Michigan and Arkansas. The company generated an annual revenue of about USD 26 million along with 130 FTE.
As per trusted sources, Applied Process is a leading technology company involved in the austempering process – a heat treatment technique to solve complex engineering issues. Apparently, much of its business is derived from providing conceptual design, engineering conversions, and engineering assistance. An R&D center has been set up to assist the customers with conversion and development of new technologies.
For the record, the austempering process has been widely used to enhance the performance and facilitate light weighting of components across various end markets such as construction equipment, agriculture, heavy truck, mining, gears, powertrain, machinery and railroad.
Reportedly, in regions where the services of Aalberts is not present yet, Applied Process is working towards strengthening the network and vice versa. Besides, Aalberts is offering combinations of technology to its existing clients to address their technology challenges. The accounts active in different parts of USA may avail the company’s combined service footprint.
Apparently, the results of Applied will be combined by August 1 and the acquisition will directly reflect in the earnings per share coupled, while being financed by the prevailing credit facilities.
About Aalberts N.V.
The company operates in over 70 business locations and 80 service locations across 50 countries. Aalberts develops, designs, and manufactures piping systems to facilitate distribution and regulation of gas and water flows in cooling, heating, gas and water systems in residential and commercial buildings.
Additionally, climate technology, industrial technology, and material technology are other operations the company carries out. With over 16,000 employees, Aalberts aims to create a sustainable profitable growth. In the year 2018, the company generated revenue of around 2759 million Euros.
Source Credits : https://www.globenewswire.com/news-release/2019/07/29/1892593/0/en/Aalberts-N-V-Aalberts-acquires-heat-treatment-specialist-in-North-America.html
A qualified post graduate in finance and management, Pankaj Singh has been working as a content developer for quite a while now. Endowed with a two-year experience as a U.K. insurance underwriter, Pankaj pens down pieces for news.decresearch.com and other portals.