The two parties have agreed not to disclose details of the purchase price. Bilfinger added that the management of Johnson Screens welcomes the acquisition and will remain with the company.
Johnson Screens, which is based in New Brighton, Minnesota, was founded in 1904 and generates an annual output volume of about EUR 160M (USD 213M) with 1,200 employees and achieves attractive margins. The acquisition allows Bilfinger to double its output volume in the water and wastewater sector to over EUR 300M (USD 399M), but also to further increase the strong profitability in this sector, Bilfinger stated.
Johnson Screens produces mechanical components for the separation of solids from liquids and gases and provides associated services. The products are used for drinking water extraction, in the oil and gas industry and in other industrial sectors for wastewater treatment and resource reclamation. The company’s most important markets are North America, Europe and the Asia-Pacific region.
Bilfinger stated that upon completion of the acquisition of Johnson Screens, Bilfinger will gain access to new markets and manufacturing capacities in important growth regions. Both the product lines and the geographical presence ideally complement existing Group activities, leading to synergies in technology and sales.
The acquisition of Johnson Screens will allow Bilfinger to continue its growth strategy in the field of water and wastewater technology. In the fall of 2011, the Group acquired Diemme, a specialist manufacturer of chamber filter presses based in Lugo, Italy.
