Rotating equipment firm Dresser-Rand closes on €500mn deal for Spanish engine supplier
Rotating equipment company Dresser-Rand closed on its previously-announced acquisition of Spanish diesel and gas engine supplier Grupo Guascor S.L. (GG) from shareholders for a total enterprise value of €500mn (approximately $740mn) in cash and stock.
The enterprise value includes the assumption of €125mn (approximately $185mn) in net debt, and the payment of approximately $303mn cash and the issuance of approximately 5mn shares of Dresser-Rand common stock.
GG, a private company headquartered in Vitoria-Gasteiz, Spain, is a leading supplier of diesel and gas engines providing customized energy solutions across global energy infrastructure markets based upon reciprocating engine power systems technologies.
GG also has substantial experience in bio-energy and distributed generation applications. Dresser-Rand has indicated that its environmental solutions center of excellence will be located in the Basque Country.
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