Hyderabad: Swedish industrial major Atlas Copco AB acquired 100 per cent stake in HHV Pumps Private Limited, a leading vacuum pump manufacturing company in India, for an undisclosed sum. An agreement to this effect was signed recently.
Founded in 2009 and based in Bengaluru, HHV Pumps has emerged as the largest manufacturer of vacuum pumps by volume in India. Its products are used in a very wide range of applications including pharmaceutical, chemical, electrical and power equipment, refrigeration, air-conditioning manufacturing and many other general industrial and R&D markets.
It currently employs over 150 people. This acquisition is expected to provide HHV Pumps an access to know how from the largest vacuum pump company globally and bring in additional investments.
HHV Pumps has used, and will continue to use, specialized channel partners for some applications especially in the pharmaceutical sector.
This includes Stanpumps, with whom the company have a very successful, close relationship and a long-term agreement and post take over as well Stanpumps will continue to be main channel partner for the India’s leading vacuum pump maker, HHV Pumps said.
Sridhar Balakrishnan, Managing Director, HHV Pumps, commented: “With our combined experience and resources, HHV Pumps together with Stanpumps will be able to offer a wider range of products, service and solutions strengthened by Atlas Copco’s vastly experienced global support”.
Stanpumps is the Vacuum Division of S2 Engineering Industry Private Limited, a wholly owned subsidiary of Hyderabad-based Standard Glass Lining Technology Private Limited.
“Our Group is rapidly growing all over India in the pharmaceutical, chemical and agrochemical industries with a revenue of Rs 550 crore. Our vacuum division has been logging in an average growth of 50 per cent year-on-year with great customer satisfaction,” said Nageswara Rao, Managing Director, Standard Glass Group.
We are very excited to work with Atlas Copco which is planning to introduce and manufacture its global product range of pumps in India at HHV Pumps facility, Bangalore by next year. Stanpumps as a main channel partner is very happy to expand its range of products and services, he added.