Construction and mining equipment firm Atlas Copco is to buy Oxfordshire-based Penlon Medical Gas Solutions for an undisclosed sum.
Penlon Medical Gas Solutions’ business had revenues in 2010 of £12M and employed about 100 people. Headquartered in Abingdon, Oxfordshire, the firm assembles and supplies medical gas equipment to over 30 countries across the world.
“The medical gas market is a growing segment worldwide and has an aftermarket business with a good potential,” said Atlas Copco Compressor Technique business area president Stephan Kuhn.
“This acquisition supports Atlas Copco’s strategy of extending our medical gas offering globally and increasing revenues through aftermarket.”
The Atlas Copco Group already has a presence in the medical gas market through BeaconMedaes, which specialises in medical gas systems. With the acquisition of Penlon Medical Gas Solutions, Atlas Copco will further improve its global footprint and be a comprehensive solutions provider to worldwide medical gas customers. The business will become part of Atlas Copco Compressor Technique’s Industrial Air division and the products will be sold under the brand name Penlon Medical Gas Solutions.
Swedish firm Atlas Copco supplies compressors, construction and mining equipment, power tools and assembly systems to over 170 countries, with about 33,000 employees and revenues of €7.3bn (£6.4bn).