Elgi Equipments has acquires 100 percent equity of F.R. Pulford & Son Pty along with its wholly owned subsidiary Advanced Air Compressors. The acquired company is one of the largest distributors of industrial compressors in Australia.
Elgi Equipments is aiming at becoming a leading player in the global air-compressor business by 2027. This strategic acquisition made is a significant step for the company to expand its footprint in Australian market, giving it access to a national pool of customers to grow sales and service.
Pulford is one of the largest distributors of industrial compressors in Australia and has been in the business for nearly 100 years. The company has reported an annual turnover of 14.5 million Australian dollars (Rs 73 crore) during FY2015-16, 15.8 million AUD (Rs Rs 80 crore) in FY2016-17 and 18 million AUD (Rs 91 crore) in FY2017-18. Elgi will gain 100 percent of the shareholding and control of Pulford.
Dr Jairam Varadaraj, MD, Elgi Equipments: "It is the integration of two customer-centric organisations with the intent of gaining a leadership position in the Australian compressed air market."
Commenting on the acquisition, Dr Jairam Varadaraj, managing director, Elgi Equipments, said, "Today is a momentous day in Elgi's and Pulford's history. It is the integration of two customer-centric organisations with the intent of gaining a leadership position in the Australian compressed air market. Pulford embodies market leadership through decades of customer centricity. All of us at Elgi are humbled by Pulford's legacy in the Australian market and we are honoured by the role Elgi will play in its growth."
Tom Fyfe, managing director, Pulford said, "Today marks a great opportunity for Pulford to take a further leap forward in the Australian air compressor market with the acquisition by Elgi worldwide. It means that Pulford and Advanced Air have the stability of great products, class leading design and engineering and support from a world-class OEM manufacturer. We are all very excited about the growth opportunities with the products, we know this is a big step forward for both companies that secures Pulford as a major player in the Australian compressed air market."
Elgi Equipments, which has a broad line of innovative and technologically superior compressed air systems, has earned worldwide acclaim for designing sustainable solutions that help companies achieve their productivity goals and keep the cost of ownership low. The company has a complete range of compressed air solutions from oil-lubricated and oil-free rotary screw compressors, oil-lubricated and oil-free reciprocating compressors and centrifugal compressors, to dryers, filters and downstream accessories. The company's portfolio of over 400 products has found wide application across industries.
Also read: Elgi Equipments' global ambition revealed in Autocar Professional's August 1 issue