Pedrollo Group, one of the world’s leading electric water pump producers with headquarters in Italy, has acquired 70% of Superior Pump, a company based in Minneapolis, Minnesota and active in the design, manufacture, and marketing of residential and commercial water pumps with a strong direct presence on the American market.
Translink in Italy and the United States acted as the exclusive M&A advisor to the Pedrollo Group on its acquisition of Superior Pump. Translink’s cross-border team was led by David Strempel (Managing Partner) and Sabina Grisorio (Associate Partner) for Translink Italy together with Jason Hawley (Vice President) and Mohit Mehta (Director of International Business) for Translink in the United States (Dinan & Company).
“This transaction will allow us to seize significant growth opportunities in the North American market and, at the same time, create synergies in every operational area”, stated Giulio Pedrollo, CEO of Pedrollo Group. “I was impressed by the ability of Translink to originate this opportunity for us so close to the profile we were seeking in such a competitive market. This was our first acquisition outside of Italy. Nevertheless, Translink was able to make this complex and new experience, both in terms of norms and culture, seem familiar and manageable for us. I highly recommend Translink for companies wishing to expand abroad and especially for those interested in the United States.”
David Strempel commented: “Before this transaction, Pedrollo already generated more than 80% of its revenue outside of Italy, but less than 1% came from the United States. With this transaction, the Group gains a strong foothold in the world’s largest market and increases its growth potential. The fact that Superior Pump, one of more than 100 potential targets identified, was also a family-run business with similar values, was an appreciated added bonus for Pedrollo. This transaction demonstrates Translink’s significant capabilities to originate and execute mid-market deals in the United States.”
About Pedrollo Group
The Pedrollo Group operates in the sectors of water handling, energy transformation and applied technology and is recognized among the world leaders in the production of electric pumps. The Group has some 1,000 employees and includes the complementary businesses of Linz Electric (alternators/generators), Gread Elettronica (electronics and design), and Panelli (submersible pumps and motors). In 2019, the Pedrollo Group recorded consolidated revenues of 210 million euros. For 2021, the consolidated revenues of the Group, with Superior Pump, are expected to exceed 300 million euros – an increase of some 45% compared to 2019.
About Superior Pump
Superior Pump is the trading name of Michel Sales Inc. The company is headquartered in Minneapolis, Minnesota. Chip Michel entered the residential and commercial pump sector in 1999 and has since been joined by his son Charlie Michel III. In 2019, the company had revenues of over 60 USD Mln with its business concentrated exclusively in North America (USA + Canada).