ESPOO, Finland -- Valmet entered into an agreement on November 9th to acquire the U.S. based NovaTech Automation's Process Solutions business. The value of the acquisition will not be disclosed. The acquisition is estimated to be completed on January 1st, 2023 at the earliest.
NovaTech Automation's Process Solutions business specializes in process control and optimization solutions for batch, continuous and hybrid processes. The Process Solutions business has a turnover of approximately USD 18 million and employs more than 90 people in the United States and the Benelux countries.
The acquisition is in line with Valmet's strategy and will further strengthen Valmet's 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.
The NovaTech Automation Process Solutions business will transition to Valmet, including employees, technologies and customer agreements. The two organizations will work together over the coming months to ensure a smooth transition. The acquired business will be integrated to Valmet's Automation Systems business line.
"NovaTech Automation's process solutions offering complements Valmet's existing automation offering and industry reach. It brings synergy and opens the opportunity to serve both companies' current and future process automation customers with a wider offering. Together, we continue to strive to fulfill our vision of becoming the global champion in serving our customers. We look forward to welcoming the new colleagues from NovaTech Automation to Valmet," says Toni Saarnio, Vice President, Strategy and Business Development at 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. I know our customers and employees will benefit from their expertise and technologies," says Conrad Oakey, CEO, NovaTech Automation.