Process Gas Chromatography business of Siemens AG
Valmet has on April 2, 2024, completed the acquisition of the Process Gas Chromatography & Integration business from Siemens AG
What is Valmet acquiring?
The Process Gas Chromatography business of Siemens AG (Process Gas Chromatography - Process Analytics - Global (siemens.com)) is a market leader with its Maxum II Gas Chromatograph platform, Systems Integration, and Customer Services offering. Gas Chromatographs are used to measure the chemical composition in gases and evaporable liquids in all stages of production. With deep customer process knowledge in chemicals, liquefied natural gas (LNG), refining and biofuels, the business provides critical process insights to support its customers in ensuring and improving quality, sustainability, and safety worldwide​.
The acquired business’ key locations are in the USA, Germany, and Singapore
What is the rationale behind the acquisition of the Process Gas Chromatography business of Siemens AG for Valmet?
The acquisition of the Process Gas Chromatography business of Siemens AG strengthens Valmet’s automation segment and process automation offering with process industry gas chromatograph and process analyzer systems offering. It also strengthens Valmet’s Automation Systems business footprint in North America, Asia-Pacific, and Europe.
Siemens’ Process Gas Chromatograph Maxum II products, systems and services offering complements well Valmet’s existing automation offering, industry reach and expertise. The Maxum brand is widely known in process industries and the products are used extensively by world’s leading industrial customers. Also, the large installed base provides further service opportunities and business stability. The business is planned to form a globally-lead business unit within the Automation Systems business line and has a joint customer base also with Valmet’s Flow Control business line.
When was the acquisition completed, how will the acquired operations be included in Valmet's reporting and what are the key figures related to the acquisition?
The enterprise value (EV) of the acquisition is EUR 102.5 million on a cash and debt free basis subject to customary adjustments. The acquisition was completed on April 2, 2024.
The acquired business is integrated into Valmet’s Automation Systems business line as a business unit called Analyzer Products and Integration and will be included in Valmet’s financial reporting from Q2/2024 onwards
The net sales of the Process Gas Chromatography business of Siemens AG were approximately EUR 120 million in 2022. Correspondingly, Valmet's net sales were EUR 5,074 million in 2022.
The acquired business’ pro-forma adjusted EBITDA margin was approximately 10% in 2022.
The Process Gas Chromatography business of Siemens AG employs around 300 employees.
Key information about the acquired operations
| Net sales in 2022 | EUR ~120 million |
| Pro-forma adj. EBITDA margin in 2022 | ~10% |
| Number of employees | ~300 |
| Value of the acquisition1 | EUR 102.5 million |
1)Enterprise value on a cash and debt free basis subject to ordinary post-closing adjustments.
Read more:
April 2, 2024: Valmet has completed the acquisition of the Process Gas Chromatography business from Siemens
July 17, 2023: Valmet strengthens its automation offering by acquiring the Process Gas Chromatography business of Siemens AG