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Acquisition Expands OPW's Market Reach & Product Breadth

Source: www.gulfoilandgas.com 8/11/2014, Location: Not categorized

OPW has signed a definitive agreement to acquire all the outstanding shares of Liquip International headquartered in Smithfield, NSW, Australia. Liquip is a leading Australian designer and manufacturer of bulk liquid handling and storage solutions in the petroleum, aviation, and chemical markets.

David Crouse, President of OPW commented, "The acquisition of Liquip is another important step in the global growth strategy of OPW. Liquip significantly strengthens OPW's fluid handling position in Australia and throughout Asia Pacific. By combining our products, we create a truly best in class product portfolio meeting the unique requirements of our chemical and industrial and tank truck customers."

Liquip expects to generate revenue of approximately USD $40 million in 2014. The transaction is subject to certain customary and other closing conditions, and is expected to close in the third quarter. Terms of the transaction were not disclosed.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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