The announced acquisition of Cardo Flow Solutions was completed on July 29, 2011. For a total cash consideration of SEK 5.9 billion (CHF 852 million), Sulzer acquired one of the leading suppliers of pumps and related equipment in the attractive wastewater market. In 2010, Cardo Flow Solutions generated approximately CHF 463 million in sales and an adjusted EBITDA of CHF 67 million, implying a 14.5% EBITDA margin. The business has around 1 900 employees.
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Sulzer and Assa Abloy have signed an agreement for the acquisition of Cardo’s Flow Solutions business by Sulzer. With the intended acquisition of this strong supplier in the attractive wastewater pumps market, Sulzer will benefit from long-term growth trends. Leveraging Sulzer’s broad global presence and further developing the complementary product portfolios, Sulzer wants to further grow the business and create value.
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