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- The Fabricator
- FABTECH
- Canadian Metalworking
Premier Tech announces three acquisitions
- February 22, 2017
- News Release
- Fabricating
Riviere-du-Loup, Quebec-based Premier Tech has announced three business acquisitions, two in Europe and one in the U.S. The companies have combined revenues of $50 million and employ nearly 90 people. It is a total investment of $30 million for the purpose of enhancing the positioning of the company's offering with its international clients.
Premier Tech's industrial equipment group has acquired two companies: the first in the Netherlands and the second in Iowa. These additions will enable the Group to strengthen its position in automated conditioning and packaging systems for organic matter as well as the seed and grain markets in agriculture.
The company's environmental technologies group acquired a German company that specializes in rainwater recovery products. The company believes that its modern design technologies and vats, which are in great demand, will diversify the offering of the Premier Tech Aqua brand in this niche.
"These strategic acquisitions give us access to state-of-the-art technologies and to expertise that will enable us to provide our clients with more comprehensive solutions. They will also help us strengthen our global presence and support our growth in these different lines of business. Remember that these acquisitions, although made abroad, greatly contribute to our development and still have positive impacts for our Rivière-du-Loup Campus," said Jean Bélanger, president and COO.
Completed in January, these three acquisitions bring to five the number of companies purchased by Premier Tech during its 2016/2017 fiscal year, which ends in February.
Premier Tech currently has 3,500 team members in 24 countries. It focuses its efforts in three core industries: Horticulture and Agriculture – greenhouse production, agriculture, and lawn and garden; Industrial Equipment – rigid and flexible packaging, material handling, and palletizing; and Environmental Technologies – wastewater treatment and rainwater harvesting. The company now records sales of nearly $675 million dollars.
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