Atlas Copco to buy Australian pump manufacturer
21 August 2023
Seven Group Holdings is to sell its pump manufacturing business Sykes Group Pty Ltd to Atlas Copco. Sykes will become part of the Power and Flow Division within Atlas Copco’s Power Technique division, and the brand name will be retained.
The purchase price was not disclosed and at the time of writing Seven Group had not released any details on the sale.
Based in Newcastle, New South Wales, Sykes makes dewatering pumps for mining and wastewater applications. It employs 123 people globally and has annual revenues of approximately A$65 million (€38.2 million).
Its main focus is surface dewatering pumps, including chopper and cutter technologies for wastewater applications, and it also has a line of hydraulic submersible pumps.
Sykes has manufacturing, service and assembly facilities in Newcastle (Australia), Dubai (UAE), and Charlotte (USA), with sales and service employees globally. It also sells through distributors worldwide.
“Sykes’ products are well known in the industry as high-quality, heavy-duty products for harsh and demanding environments,” said Andrew Walker, Business Area President Power Technique.
“They manufacture products that complement our current offering well, making it a great fit for us.”
Sykes Group was a sister company to rental company Coates, which is also owned by Seven Group Holdings. Seven Group also owns lighting tower manufacturer Allight.
The acquisition is expected to close during the fourth quarter of 2023.