The Verder Group to Acquire 100% of the Shares in Autoclude
17 April 2007
The Verder Group and Samuel Hodge have announced that they have reached an agreement in principle under which the Verder Group will acquire 100% of the shares in Autoclude.
Autoclude designs and manufactures peristaltic pumps, mainly for the OEM and laboratory market. The company has distributors in many countries and an extensive product range which covers flow rates from 1ml/min to 23L/min, which are used in a diverse range of industries, e.g. medical and the dispensing of beverages.
"With virtually no product overlap, Autocludes' products represent an attractive complement to the products in our liquids division," said Andries Verder, CEO of the Verder Group. "We believe this acquisition will further expand our customer base throughout the Group.
"The combined businesses will benefit from economies of scale through a well established sales network and combined product development, to accelerate growth and further strengthen our position in the peristaltic pump market."
"We believe this is an outstanding transaction for our associates, customers and partners," said Hamish Kinmond, director of Samuel Hodge. "Verder is at the forefront of peristaltic pump technology, making it the ideal partner for Autoclude. This combination is the best way to create exciting future growth opportunities for Autoclude's associates and partners, and enhanced products for our customers."
