Nilfisk has signed for the acquisition of Pressure-Pro, a leading manufacturer of high-pressure washers headquartered in Florida, USA, effective 1 January 2016, said a mid-December company announcement. The latest initiative reflects Nilfisk’s acquisition growth strategy.
A manufacturer of cold and hot water high-pressure washers, Pressure-Pro realised revenues of US$40 million in 2014 and has about 90 employees.
Pressure-Pro’s currect owners ‘will remain in place to ensure continued growth and capture of the synergies with Hydro Tek, which was acquired in November 2015.
‘The two acquisitions will strengthen Nilfisk’s market position, combining Pressure-Pro’s cold water solutions and eastern US strongholds with Hydro Tek’s hot water solutions and western US bastions. Furthermore, both existing and new customers of the two businesses will benefit from improved product offerings and service concepts,’ noted Nilfisk.
NKT’s group executive director Michael Hedegaard Lyng commented that, “NKT (Nilfisk’s parent) has the financial strength to drive and support the growth ambitions of all its businesses. Nilfisk’s declared agenda to continue gaining leading market positions and pursue growth opportunities through acquisitions is therefore fully in line with our aim of constantly increasing value creation.”
Nilfisk president and CEO Jonas Persson pointed that, “Our Accelerate strategy contains several levers to ensure growth, one being to continuously look for opportunities to acquire leading manufacturers with solid market access. Uniting the Pressure-Pro and Hydro Tek acquisitions with Nilfisk’s product range and market reach will establish a strong position for Nilfisk in the high-pressure washer market, both in the US and throughout the Americas.”