Processing Magazine

Gardner Denver draws interest from SPX, four buyout firms

November 7, 2012

WAYNE, Penn. — SPX Corp. and at least four other buyout firms are interested in buying industrial equipment manufacturer Gardner Denver Inc., Bloomberg reported.

In addition to SPX, private-equity firms Bain Capital LLC, Blackstone Group LP, Onex Corp. and TPG Capital are looking at the Wayne-Penn.-based company, which has a market value of about $3.5 billion.

RELATED: Gardner Denver opens new manufacturing facility in Pennsylvania

Gardner Denver reported third quarter 2012 revenues of $548.5 million, down 11 percent compared to the prior year third quarter.