Valmet to acquire Siemens’ process gas chromatography business for €102.5m
Valmet, a global developer and supplier of technologies, automation systems, and services, has agreed to acquire the Process Gas Chromatography business from Siemens AG.
The purchase is valued at €102.5 million on a cash and debt-free basis, subject to standard adjustments. The acquisition is anticipated to be completed on April 1, 2024, once all customary conditions and carve-out measures are met.
Siemens’ Process Gas Chromatography business is a market leader known for its Maxum II Gas Chromatograph platform, Systems Integration, and Customer Services offering. These Gas Chromatographs measure the chemical composition in gases and evaporable liquids throughout various production stages. With extensive knowledge in fields like chemicals, liquefied natural gas (LNG), refining, and biofuels, the business aids customers worldwide in enhancing safety, quality, and sustainability.
The business reported net sales of approximately EUR 120 million in 2022, with an adjusted EBITDA margin of about 10%. It employs around 300 people with key operations in the USA, Germany, and Singapore.
The acquisition aligns with Valmet’s strategy to augment its automation segment and process automation offering, which will be further bolstered with the addition of the gas chromatograph and process analyzer systems. The deal will also extend Valmet’s Automation Systems business presence in North America, Asia-Pacific, and Europe. The acquired business is planned to be incorporated into Valmet’s Automation Systems business line as a distinct unit.
Emilia Torttila-Miettinen, President, Automation Systems business line at Valmet, expressed that Siemens’ Process Gas Chromatograph products and services align well with Valmet’s current offerings. Glen Irving, CEO, Siemens Gas Chromatograph & Integration Business, also noted the potential for growth and synergies arising from the partnership with Valmet.
The deal with Siemens marks the continuation of Valmet’s recent expansion efforts in its Automation segment, following its merger with Neles in April 2022 and the acquisition of NovaTech’s Process Solutions business in January 2023.