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Global Major Atlas Copco Buys Out Bengaluru-Based Co’s Pumps Business

Global air compressor giant Atlas Copco, which has been on a buying spree over the last few years to take over major vacuum companies around the world, has just signed a sale and purchase agreement to buy out a Bengaluru-based company’s pumps business. The Indian arm of the $11-billion Swedish giant will, however, continue to use the latter’s HHV brand – which is a well-established and very strong one in the vacuum business – for the next three years. HHV Pumps was a 30% partner in a joint venture with a group of private individuals who were ex-CEOs of the century-old pumps manufacturer Edwards, which is now part of the Stockholm-headquartered Atlas Copco. Other vacuum pump companies that have been acquired include the 170-year-old Leybold and the comparatively young US-based Brooks Automation, which was established in Chelmsford, Massachusetts in 1978. HHV, founded in 1965 by SV Narasaiah (1924 -2021) as Hind High Vacuum Company Pvt Ltd, got a good deal, while the Swedish giant will gain a big foothold in the Indian market. The sale is expected to be completed in the first week of January 2022.