Industrial PVF / Latest News

Dec. 4, 2007 ― Grundfos Buys Peerless Pump

December 4, 2007
/ Print / Reprints /
ShareMore
/ Text Size+

Denmark-based pump manufacturer Grundfos Group has acquired Peerless Pump Co., a U.S.-based manufacturer of pumps and fire protection systems. It is Grundfos’ largest acquisition to date; Peerless has more than 400 employees and annual sales of $110 million.

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.

Grundfos’ sales in North America are $300 million. The U.S. pump market alone is estimated to be $6 billion, and Grundfos expects to double sales within a four-year period.

Søren Ø. Sørensen, Group Executive Vice President and Chairman of the Board of Grundfos in North America, said, “We expect a lot from this deal and see great potential for globalization, especially of the Peerless fire protection systems.” He also anticipates continued investments in the United States.

Dean E. Douglas will continue in his present position as President and CEO of Peerless with reference to the Grundfos Group’s new Regional Managing Director, Jes Munk Hansen.

Did you enjoy this article? Click here to subscribe to Supply House Times.
You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

8/26/14 1:00 pm EST

Free Webinar: Low Temperature Heat Emitter Options in Hydronic Systems

With proper design, you can create systems that require supply water temperatures no higher than 120° F under design load conditions.

Supply House Times Poll

Back to School

It’s back-to-school time, how do you stay knowledgeable on the industry:
View Results Poll Archive

The Supply House Times Store

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

CS-OflRGBhomepage.jpgWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Premier 125

Premier 125 button

The information SUPPLY HOUSE TIMES uses to rank the Premier 125 is the most accurate we can gather. It is primarily based on responses to a questionnaire we send to the wholesalers in our database, supplemented with information obtained from industry reports and estimates.

STAY CONNECTED

facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon  Google+