MONTREAL – GROUPE LAPERRIERE & VERREAULT (GL&V) has signed a definitive agreement to acquire all the share capital of KREBS INTERNATIONAL based in Tucson, Arizona, its engineering offices, and its six manufacturing facilities around the world. The deal is worth $98 million in cash, and GL&V will assume $12 million in debt. GL&V recently raised it credit facility to $320 million from $180 million.
The name Krebs has been familiar to mineral processors since 1950 when it began manufacturing cyclones and similar high-performance liquid/solid separation equipment. In the past few years it has also established its name in the energy sector. Krebs currently has an installed base of over 150,000 hydrocyclone systems operating around the world.
Laurent Verreault, GL&V chairman and CEO, noted that Krebs posted a 33% average annual growth over the past three years. “Considering Krebs’ growth track record in recent years and its current order backlog, we estimate that it will provide GL&V with additional revenues of approximately $110 million during the first full year.”
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