Grundfos has 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 buildings market.
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 Board of 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 from Grundfos.
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 growth.
“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 buildings industry.”
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.”