Atlas Copco Group has completed the acquisition of Sykes Group (Sykes) from Seven Group Holdings Ltd (SGH), an Australian headquartered global market manufacturer of dewatering pumps.
Listed on the Australian Stock Exchange, Sykes’ dewatering pumps are predominantly used for transferring water with solids and abrasive nature within the mining and wastewater sectors. Headquartered in Newcastle, New South Wales, Sykes has 123 employees globally and annual revenues of approximately AUD 65 million (SEK 455mn).
Sykes also offers chopper and cutter technologies for wastewater applications and a versatile portfolio of hydraulic submersible pumps.
The purchase price of the Atlas Copco acquisition has not been disclosed. The business becomes part of the Power and Flow Division within Atlas Copco’s Power Technique Business Area.
The Power Technique business area provides portable air and power, industrial and portable flow solutions through mobile compressors, generators, light towers, industrial and portable pumps, and several complementary products. It also offers specialty rental and provides service through a global network. Guided by a forward-thinking approach to innovation, Power Technique provides sustainable productivity solutions across multiple industries, including construction, manufacturing, oil and gas, and exploration drilling.
