Italian Compressor Manufacturer FIAC to Be Acquired by Atlas Copco
Atlas Copco, a world-leading provider of products that cater to the manufacturing, mining, and construction industries, has agreed to acquire the Italian compressor manufacturer FIAC, which is known for producing piston compressors and related equipment with a global network of its own. The solutions offered by Atlas Copco are unique in that it offers innovative products that are not only highly effective, they are also exceptionally sustainable. Each product is created with its environmental impact in mind, and Atlas Copco is hoping to bring the same environmental mindset after the company is acquired.
FIAC is a Bologna, Italy company that employs nearly 400 employees. The compressor manufacturer currently offers a wide range of products that include piston compressors, air treatment products, and spare parts. It was founded in 1977, and today, FIAC has production sites in Italy, China, and Brazil, selling to more than 110 countries. Revenues totaled about MEUR 70 in 2014.
“FIAC stands for very high-quality compressed air products, and this acquisition will strengthen our product portfolio and expertise, especially for piston compressors,” says Nico Delvaux, president of Atlas Copco’s Compressor Technique business area. “We are adding another strong brand to our brand portfolio.”
FIAC compressors are popular the world over as they are used by many different small and medium-sized industrial and professional customers, including car repair shops, manufacturing, and more.
The parties involved have agreed not to publicly disclose the purchase price. Although it is Atlas Copco’s intention to continue FIAC’s legacy of quality products and worldwide service, it will eventually become a part of the new Professional Air division in the Compressor Technique business area. This new area will be created by Atlas Copco sometime after the acquisition is complete.
Acquisition of FIAC requires regulatory approvals that are expected to be completed at the beginning of 2016.
Source: Atlas Copco