Engineering group Howden acquires Dutch firm Thomassen Compression Systems
Global engineering group Howden has acquired Thomassen Compression Systems BV, complementing Howden’s existing range of compressors and opening up a wider market in the oil and petrochemical industries, the company said.
Howden and Thomassen have very similar core competencies in the application engineering of custom designed, high technology products for performance critical environments, the company said. Howden designs, engineers and supplies air and gas handling equipment including industrial fans, process gas compressors and rotary heat exchangers.
The compressor range, which includes screw, centrifugal turbo, diaphragm and horizontal piston compressors, is an increasingly important part of Howden’s global portfolio. Accounting for over 15% of its £562 million turnover in 2010, Howden’s compressors are used for a variety of applications, especially in the oil & gas and petrochemical industries.
Thomassen, based in the Netherlands, focuses on the design, assembly, installation and servicing of custom-made horizontal piston compressors. Like the Howden range, these compressors are highly-engineered, large scale products. But with pressures up to 600 bar and power capability up to 25MW, they are designed for high power applications, primarily in the oil refining and petrochemical industries.
In recent years, Thomassen’s main markets have been across Europe, the Middle and Far East, Russia, Africa and South America. The company has approximately 300 employees mainly based in the Netherlands with the remainder located in service centres and sales offices around the world.
““This is a transformational deal for Howden,” said CEO Michael Foster. “We have very carefully considered the right acquisition for Howden and we are delighted to have secured Thomassen, which will make Howden a leading presence in the supply of engineered compressors, in particular to the oil and gas and petrochemical industries."
The deal is worth £88mn, according to news reports.
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