Elgi Equipments buys U.S. firm

Elgi Equipments, which manufactures air-compressors and automotive equipment, is expanding its global presence.

It has acquired Patton’s Inc. of the U.S. for an undisclosed sum.

This is the second overseas acquisition by Elgi in the last seven months. In August this year, it acquired Italian company Rotair S.p.A.

According to a release from Elgi, Patton’s, a closely held firm that is based in Charlotte (North Carolina), distributes industrial compressors and air products.

It also engineers and assembles air products for the healthcare sector through a subsidiary. The company has a strong presence in the south eastern regions of the U.S., and its annual turnover is $41 million.

With this acquisition, Elgi has access to a ready and established distribution and service network, and its product range will expand on the medical line.

The existing management team of Patton’s will continue to manage the operations.

The acquisition, advised by MAPE Advisory Group, was done through Elgi’s wholly-owned U.S. subsidiary, Elgi Compressors USA Inc.

Elgi has warehouses in Australia, Brazil and West Asia. It also has production facilities in Italy, France and China.