Elgi Equipments acquires Pulford Air & Gas; makes a strategic entry into the Australian market
Elgi Equipments (BSE: 522074 NSE: ELGIEQUIP), one of India’s leading air-compressor manufacturers, announced its 100% acquisition of F.R. Pulford & Son Pty Limited along with its wholly owned subsidiary Advanced Air Compressors Pty Ltd, doing business as Pulford Air and Gas (“Pulford”), based in Sydney, Australia. This acquisition was completed on July 31st, 2018.
Elgi Equipments is currently on a business mission of becoming a leading player in the global air-compressor business by 2027. This strategic acquisition made by ELGi is in fact a significant step the company has made in Australia to expand its footprint in the whole region.
Through this acquisition, ELGi gains access to a national pool of customers to grow sales and service in Australia. Pulford is one of the largest distributors of industrial compressors in Australia and has been in the business for nearly 100 years. The company has reported an annual turnover of AUD 14.5 Million during the financial year 2015-16, AUD 15.8 Million during 2016-17 and AUD 18 Million during 2017-18. ELGi will gain 100% of the shareholding and control of Pulford.
Dr. Jairam Varadaraj, Managing Director, Elgi Equipments said, “Today is a momentous day in ELGi’s and Pulford’s history. It is the integration of two customer centric organisations with the intent of gaining a leadership position in the Australian compressed air market. Pulford embodies market leadership through decades of customer centricity. All of us at ELGi are humbled by Pulford’s legacy in the Australian market and we are honoured by the role ELGi will play in its growth.”
Tom Fyfe, Managing Director, Pulford said “Today marks a great opportunity for Pulford to take a further leap forward in the Australian air compressor market with the acquisition by ELGi worldwide.
It means that Pulford and Advanced Air have the stability of great products, class leading design and engineering and support from a world class OEM manufacture.
We are all very excited about the growth opportunities with the products, we know this is a big step forward for both companies that secures Pulford as a major player in the Australian compressed air market.”
About ELGi
Elgi Equipments Limited is a leading air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems. ELGi has earned worldwide distinction for designing sustainable solutions that help companies achieve their productivity goals and keep the cost of ownership low. ELGi offers a complete range of compressed air solutions from oil-lubricated and oil-free rotary screw compressors, oil-lubricated and oil-free reciprocating compressors and centrifugal compressors, to dryers, filters and downstream accessories. The company’s portfolio of over 400 products has found wide application across industries. For further information on the organisation and its products, please visit http://www.elgi.com
About Pulford
Pulford is one the largest distributors of industrial air compressors in Australia and has been in the business for nearly 100 years. Founded in 1925, the business is headquartered in Sydney with state offices in Queensland and Victoria. Pulford is primarily engaged in the business of distributing and servicing industrial air compressors, gas generation equipment and air filtration products. Proudly servicing many different industries for the past 90 years, Pulford has a reputation for quality, reliability and first-class service to customers. With the acquisition of Advanced Air Compressors in 2015, Pulford Air & Gas became the largest independent air compressor and gas generation company in Australia and continues to produce the highest quality and energy efficient air compressors to every segment of the air and gas market.
