2013-02-21 06:14:42 -
With the acquisition, Grundfos' products will get even closer to the Australian
Grundfos, the global leader in providing innovative, energy efficient pumps and
pumping solutions, today announced that they will acquire long term local
Australian partner, B.K.B. Pumps & Tanks Pty Ltd. The deal closure is expected
to be finalised by early April 2013.
The new business will merge the resources of B.K.B. Pumps and Tanks Pty Ltd with
Grundfos' Australian Commercial Building Services (CBS) team to create a new
entity with national reach and industry leading capabilities and resources. The
move will further strengthen Grundfos' position in the Australian commercial
The new entity will be called B.K.B. Building Solutions Pty Ltd (B.K.B.). B.K.B.
will operate independently to Grundfos Pumps, with its own Management Team and
Directors. The two existing major shareholders of B.K.B. Pumps & Tanks
Pty Ltd, Mr Bala and Mr Jeya Thuraisingam, will remain part of the B.K.B.
Management Team as General and Deputy General Managers respectively, allowing
the company to benefit from their vast experience within the industry.
The announcement was made today at a press conference held at the B.K.B.
Headquarters in Hallam, Victoria, and was attended by senior representatives
Mr Søren Ø. Sørensen, Group Executive Vice President and Member of Grundfos
Group Management said, "Australia is an important contributor to the overall
business success of the Grundfos Group. It is a particularly strong contributor
to the success we have seen over the years in the Asia Pacific Region, and we
expect the acquisition of B.K.B. to further strengthen our local and global
"This new initiative provides further access to the commercial building
services market, through both a sales and service set-up, and more importantly,
provides added value to our Australian customers."
Mr Steen Holm Jensen, General Manager of Grundfos Pumps Pty Ltd, has been newly
appointed as Chairman of the Board of Directors for B.K.B. Building Solutions.
He said, "Through this partnership, this new entity will strengthen our roads to
market and allow us to accelerate our local growth within the commercial
Mr Bala Thuraisingam, General Manager of B.K.B. Building Solutions, commented,
"Despite commercial construction suffering some tough times in recent years, the
commercial buildings sector is embracing innovative green technologies. B.K.B.
Building Solutions is fully committed to bringing the most innovative, greenest
and energy efficient solutions to our customers in Australia - and Australian
manufactured pump sets, tanks and controllers are a major plan for business
growth nationally into this market sector.
"With our strengthened linkage to Grundfos' leading R&D capabilities in the pump
systems industry, and Grundfos' financial strength, we are convinced B.K.B.
Building Solutions, through a national organisation, will be a preferred partner
to the leading players in the industry."
Grundfos was founded in 1945 in Bjerringbro, Denmark by the late Poul Due
Jensen. Today the Grundfos Group is represented by more than 80 companies in
more than 55 countries. In addition Grundfos products are sold in a large number
of countries by local distributors. The company is predominantly owned by the
Poul Due Jensen Foundation, which was established as an independent institution
in 1975. Today the Foundation owns 86.7%, staff 2.0% and the founder's family
11.3% of the shares in Grundfos Holding A/S.
About Grundfos Pumps Australia
Grundfos Pumps Pty Ltd was established in 1980, and for the past 30 years has
provided sustainable, innovative pumping solutions to customers throughout the
country, covering a range of applications. Grundfos Australia's Head Office is
located in Regency Park, South Australia, with Sales Offices across the country.
Grundfos Pumps Pty Ltd employs over 160 employees and has a turnover of
About B.K.B. Pumps & Tanks
B.K.B. Pumps & Tanks was established in 1988 in Melbourne, Victoria. It is today
the pre-eminent designer, manufacturer, supplier and installer of packaged pump
and tank equipment to the fire, hydraulic and mechanical services industries in
South East Australia.
For further enquiries contact:
Frank B. Winther
Communication Manager, Grundfos
Mobile: +45 21 99 62 40
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Source: Grundfos via Thomson Reuters ONE