It is a total investment of $30 million for the purpose of enhancing the positioning of Premier Tech's commercial offering with its international clients.
Already deployed on four continents, Premier Tech's Industrial Equipment Group is thus continuing its growth by acquiring two companies: the first in the Netherlands and the second in Iowa, United States. These additions will enable the Group to strengthen its position as leader in automated conditioning and packaging systems for the organic matter as well as the seed and grain markets in agriculture.
Firmly established in five European countries, Premier Tech's Environmental Technologies Group includes a German company that specializes in rainwater recovery products. Its modern-design technologies and vats, which are in great demand on this continent, will diversify the offering of the Premier Tech Aqua brand in this niche.
"These strategic acquisitions give us access to state-of-the-art technologies and to expertise that will enable us to provide our clients with more comprehensive solutions. They will also help us strengthen our global presence and support our growth in these different lines of business. Remember that these acquisitions, although made abroad, greatly contribute to our development and still have positive impacts for our Rivière-du-Loup Campus," points out Jean Bélanger, President and Chief Operating Officer.
Carried out in January, these three acquisitions bring to five, four of which are international, the number of companies purchased by Premier Tech during its 2016/2017 fiscal year, which ends at the end of February.
Premier Tech has been growing its leadership position globally for more than 90 years, driven by the collective power of its 3,500 team members in 24 countries. Leveraging its human capital as well as a deeply rooted Culture revolving around innovation and excellence, Premier Tech focuses its efforts in three core industries: Horticulture and Agriculture – greenhouse production, agriculture, and lawn and garden; Industrial Equipment – rigid and flexible packaging, material handling, and palletizing; and Environmental Technologies – wastewater treatment and rainwater harvesting. Committed to the long-¬term success of its clients, Premier Tech today records sales of nearly $675 million, backed by a strong manufacturing and commercial expertise, a far-reaching entrepreneurial approach and a quarter-century-¬long track record of solid growth.