Atlas Copco, a Sweden-based provider of industrial productivity solutions, will purchase Bay Minette, Ala.-based Quincy Compressor from EnPro Industries Inc., a Charlotte-based manufacturer of engineered products, for approximately $190 million. The acquisition, expected to be completed during the first quarter of this year, will expand Atlas Copco's Compressor Technique business area, which develops, manufactures, markets, distributes and services oil-free and oil-injected stationary air compressors, portable air compressors, gas and process compressors, turbo expanders, electric power generators, air treatment equipment and air management systems.

"We look forward to working with Quincy Compressor and its strong distributor network," said Stephan Kuhn, Business Area president, Atlas Copco Compressor Technique. "The strategic fit is very good and we will be able to better serve customers in the United States with an even more differentiated product portfolio. For Atlas Copco, this acquisition offers interesting synergies in both product design and supply chain management, while adding a strong brand for our continued growth."

Founded in the 1920s, Quincy Compressor designs and manufactures reciprocating compressors, rotary screw compressors and vacuum pumps, mainly under the Quincy brand. The company employs approximately 400 people, and has manufacturing facilities in Quincy, Ill., and China as well as in Bay Minette. Its products are sold through independent distributors and agents, with more than three-quarters of sales in the United States. Atlas Copco plans to further develop the Quincy brand independently.

The transaction is being executed by Atlas Copco North America LLC subsidiary Fulcrum Acquisition LLC and Atlas Copco (China) Investment Co. Ltd., which are acquiring Quincy from EnPro subsidiary Coltec Industries Inc. Upon closing, Fulcrum will change its name to Quincy Compressor LLC.

January 5, 2010