Valmet Oyj, an Espoo, Finland-based developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, says it has entered into an agreement to acquire Quakertown, Pennsylvania-based NovaTech Automation’s process solutions business.
Valmet says the value of the acquisition will not be disclosed and is estimated to be completed Jan. 1, 2023, at the earliest.
According to Valmet, 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 around $18 million and employs more than 90 people in the U.S. and EU.
The company says the acquisition is in line with its strategy and will further strengthen Valmet’s recurring stable automation business with a reliable batch distributed control system (DCS) while also expanding its automation systems business footprint in the U.S., particularly in the food and beverage, pharmaceuticals and chemical products industries.
Valmet says the transition of the NovaTech Automation process solutions will include employees, technologies and customer agreements. The two companies will work together over the coming months to ensure a smooth transition.
“NovaTech Automation’s process solutions offering complements Valmet’s existing automation offering and industry reach,” Valmet Automation Systems Vice President of Strategy and Business Development Tony Saarnio says. “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.”
NovaTechAutomation CEO Conrad Oakey states, “Valmet is an industry leader in automation systems and process control. Their investment in research and development, direct-to-consumer 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.”