Comet Group pump manufacturer acquires Lavorwash
BURNSVILLE, MN — Italian high-pressure plunger pump manufacturer, the Comet Group, recently announced it would acquire professional commercial cleaning solution manufacturer Lavorwash Group after signing a binding Share Purchase Agreement.
Lavorwash Group, which is based in Pegognaga, Italy, posted total sales turnover valued at approximately $78 million and employing over 350 employees. The company holds facilities worldwide including production facilities in Italy, Brazil, and China. Commercial subsidiary locations in the United Kingdom, France, Poland, and Spain round out the company’s portfolio, which will strengthen Comet Group’s growth strategies.
“I believe this deal is essential for the consolidation and the development of our growth project started in 2010 that allows our company to succeed in the international markets. We are strongly committed to accomplish[ing] our new responsibilities in order to successfully achieve our ambitious goals,” Paolo Bucchi, President of Comet, said in a press release.
Comet and Lavorwash activities are highly complementary and differentiated based on their geographies, product lines, and go-to-market approach, and their brands see little overlap due to their differentiated market positions. Allowing to maximize upstream and downstream synergies involving designing, production and sale. With this deal, Comet Group achieves a reestablishes itself as an important worldwide players the industry.
Comet pumps is an Italian manufacturer of a full line of industrial high-pressure plunger pumps and accessories used in a variety of applications such as sewer jetting, hydro excavation, hydro demolition, high pressure cleaning, water jet cutting, and many other industrial applications.