In its largest acquisition to-date, The
Grundfos Group announced it has acquired Peerless Pump Co., a U.S.-based
manufacturer of pumps and fire protection systems.
Carsten
Bjerg, Group President and CEO of Grundfos Group, said in the
announcement that Grundfos has recently focused
on growing its business globally, especially in Eastern Europe, Asia and North
America. Grundfos has had a U.S. presence since 1973. “The US market has a significant
growth potential and seen in that perspective the acquisition of Peerless is of
great strategic importance to Grundfos.” The company continues its expansion of
its R&D facilities and production capacity in North America. It sees the
Peerless acquisition as crucial to strengthening its U.S. market position.