Finland-based Valmet Oyj reported Nov. 9 that it’s agreed to buy U.S.-based NovaTech Automation's Process Solutions business. Terms of the deal weren’t disclosed, but its earliest expected completion is Jan. 1, 2023.
NovaTech's Process Solutions business specializes in process control and optimization solutions for batch, continuous and hybrid processes. It has a turnover of approximately $18 million and employs more than 90 people in the U.S. and the Benelux countries.
Valmet reports that acquiring NovaTech is in line with its strategy, and will further strengthen its recurring stable automation business with a reliable, batch, distributed control system (DCS). It also expands Valmet's automation systems business footprint in the U.S., particularly in new industries, including food and beverage, pharmaceuticals, and chemical products.
"NovaTech's process solutions complement Valmet's automation offerings and industry reach. It brings synergy and opens the opportunity to serve both companies' current and future process automation customers with a wider offering,” says Toni Saarnio, VP of strategy and business development at Valmet's Automation Systems division. “Together, we’ll continue to strive to fulfill our vision of becoming the global champion in serving our customers. We look forward to welcoming our new colleagues from NovaTech to Valmet."
NovaTech’s Process Solutions business will transition to Valmet, including employees, technologies and customer agreements. The two organizations report they’ll work together over the coming months to ensure a smooth transition. The acquired business will be integrated with Valmet's Automation Systems business line.
"Valmet is an industry leader in automation systems and process control. Their investment in research and development, direct-to-customer service model, and their global footprint make them an ideal steward of the NovaTech Automation Process offering,” says Conrad Oakey, CEO at NovaTech Automation. “I know our customers and employees will benefit from their expertise and technologies."
