OPW on growth path with Liquip buy
Both firms have fuel and liquids services and technology in common
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OPW will have a stronger presence in Australia
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OPW’s move to buy McAleese subsidiary Liquip is part of an international expansion, OPW president David Crouse says.
Cincinnati-headquartered global fluids services firm OPW, itself a subsidiary of US conglomerate Dover Corporation, expects Liquip’s technology and fabrication expertise to complement its own, once the sale McAleese announced yesterday is finalised.
"The acquisition of Liquip is another important step in the global growth strategy of OPW. Liquip significantly strengthens OPW’s fluid handling position in Australia and throughout Asia Pacific," Crouse says.
"By combining our products, we create a truly best in class product portfolio meeting the unique requirements of our chemical and industrial and tank truck customers."
Liquip is expected to generate revenue of about $46 million this year.
The transaction is subject to conditions, and is expected to close in the third quarter.
Terms of the transaction were not disclosed.
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