At an extraordinary general meeting last week, a needed majority of shareholders of Edwards Group Ltd. approved the merger agreement whereby Atlas Copco will acquire Edwards, a leading global supplier of vacuum and abatement solutions.
The acquisition of Edwards offers Atlas Copco an opportunity to expand into a growing business with several synergies between vacuum and compressed air solutions in sales, service and technology development.
The transaction, which was first announced on Aug. 19, and will be completed by way of a merger, remains subject to antitrust clearance. It is expected to close in the first quarter of 2014.
Atlas Copco is an industrial group that produces compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems.