Lindsay Corp acquires Claude Laval
Aug. 28, 2013, Fresno, CA – Claude Laval Corporation has become a wholly-owned subsidiary of Lindsay Corporation.
"LAKOS is an outstanding company with a strong and experienced management team and first-class employees,” said Lindsay Corporation’s president and CEO Rick Parod in a media statement. “Their position as a world leader in the water filtration systems business will greatly enhance Lindsay’s existing product lines and our technology development to the benefit of customers worldwide.”
Claude C. Laval III, founder and chairman of Claude Laval Corporation commented on the acquisition of his company in a press release.
“We are particularly pleased that Lindsay and LAKOS both share the same corporate values. This opportunity will bring future growth prospects not only to LAKOS but to the Fresno region as well. We envision that this combination will provide both companies with a platform that can manufacture and sell complementary products in the industrial, heat transfer, and irrigation markets, potentially adding jobs at our Fresno facility, which has recently been expanded. This couldn’t have happened at a better time.”
Lindsay Corporation, which is based in Nebraska, has its roots in the agricultural irrigation business having designed and built the Zimmatic center pivot irrigation system. Over the last 50 years, Lindsay has positioned itself to expand into other markets, including the heat transfer and industrial markets.
Terms of the transaction, which closed Aug.16, were not disclosed however, Laval Underground Surveys, a separately held company, was not included in the deal and Claude Laval Corporation operations are continuing unchanged.