Lindsay Makes an Acquisition

Lindsay (NYSE: LNN  ) has added a new asset to its portfolio. The company announced that it has acquired privately held Claude Laval, also known as LAKOS Separators and Filtration Solutions. The purchase was effected in a stock transaction, the details of which were not made public.

In the press release announcing the news, Lindsay touted the synergies of the acquisition. It quoted President and CEO Rick Parod as saying that "this represents a key strategic addition to the Lindsay Corporation portfolio of companies and is an important expansion of our 'water use efficiencies' capabilities."

According to Lindsay, the Fresno, Calif.-based Laval brings in annual revenues of $25 million to $30 million and has roughly 125 employees.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2599452, ~/Articles/ArticleHandler.aspx, 7/23/2014 4:34:25 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement