Aalberts To Acquire Geo-Flo To Boost North America

(RTTNews) - Aalberts N.V. (AALB.AS), a Dutch technology company, announced on Thursday that it has entered into an agreement to acquire Geo-Flo Corp. The move aligns with Aalberts' Thrive 2030 strategy and will expand its footprint in North America.

The acquisition, funded through existing credit facilities, will have an immediate positive impact on earnings per share.

By combining Geo-Flo's expertise and products with Aalberts' boiler room technology, the company expects to accelerate complementary product development and unlock new growth opportunities in energy and resource-efficient building solutions.

Geo-Flo is a U.S.-based company in Indiana with an annual revenue of around $15 million and a workforce of over 25 employees.

Geo-Flo specializes in designing and manufacturing pumping systems and components for hydronic HVAC systems, including geothermal and water source heat pump applications.

The company is recognized for its design expertise and advanced production capabilities.

Geo-Flo's results will be consolidated starting July 17.

On Wednesday, Aalberts closed trading, 1.49% lesser at EUR 31.72 on the Amsterdam Stock Exchange.