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Claude Laval Corpoarion/LAKOS Acquired by Lindsay Corporation

 

FRESNO, CA – Claude Laval Corporation, the manufacturer of LAKOS® Separator and Filtration Solutions, has announced today that it has become a wholly owned subsidiary of Lindsay Corporation, a Nebraska-based NYSE traded firm with a focus on manufacturing and distribution of water management systems.

"LAKOS is an outstanding company with a strong and experienced management team and first-class employees,” said Lindsay Corporation President and CEO Rick Parod. “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. LAKOS is a company we've watched and respected for a long time."

Claude C. Laval III, founder and Chairman of Claude Laval Corporation said, “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.”

Claude Laval Corporation President Melinda “Mendy” Laval added, "The synergies between Claude Laval Corporation and Lindsay are abundant, complementary and exciting. The acquisition gives us many of the opportunities that are needed for both geographical and new product growth.”

Lindsay Corporation 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 August 16, 2013, 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.

"We value the current leadership at Claude Laval Corporation and the change in ownership will be swift and seamless,” Parod said. “Most importantly, Claude Laval Corporation will continue to provide its customers, distributors and resellers with the same excellent products and services."

For more information: www.lindsay.com