Atlas Copco to acquire Oerlikon Leybold Vacuum

Transaction expected to close by middle of the year 2016

23-Nov-2015 - Switzerland

Oerlikon announced that it has signed an agreement to sell its Leybold Vacuum business to Atlas Copco. The transaction is based on an enterprise value of CHF 525 million and is expected to close by middle of the year 2016.

Oerlikon advances its strategic agenda and continues to focus on streamlining its portfolio with the objective of further developing the company’s Best-in-Class businesses. The divestment of its Vacuum Segment to Atlas Copco marks the thirteenth strategic transaction for the Group since 2010. It will allow the Group to further allocate resources and management attention to its strategic growth areas.

The enterprise value for Oerlikon Leybold Vacuum is CHF 525 million. In 2014, the Segment generated sales of CHF 390 million and as of June 30, 2015, has 1646 employees worldwide. The transaction provides Oerlikon with a stronger position to invest in its leading businesses funding innovation, operational excellence as well as organic and inorganic growth opportunities.

Process and guidance

The transaction is expected to close by middle of the year 2016, subject to regulatory merger approvals in a number of countries and the standard closing conditions.

Oerlikon will report the Vacuum Segment under “Discontinued Operations” in the 2015 full-year financial statements and will restate the 2014 accounts accordingly. Based on preliminary restated 2014 full-year Group figures for order intake (CHF 2647 million), sales (CHF 2825 million) and EBITDA margin (16.8 %),

Oerlikon confirms for its continuing operations for the financial year 2015 at constant exchange rates the guidance provided on October 27, 2015: