Aliaxis SA, a world leader enabling access to water and energy through inventive fluid management solutions, today announced the acquisition of Lareter, a market leader in the industrial segment in Italy.
Aliaxis is strengthening its position as an industrial pipes and fittings leader through the acquisition of Lareter, an Italian leader in the pressure pipes market used in water treatment and other industrial end-markets such as swimming pools or ship building. It has a strong market presence in Europe: Italy, France, Germany and across the region.
Founded 60 years ago, the company generates an annual turnover of roughly €40 million and employs 80 people in its Fiesso Umbertiano plant located in the Veneto region of Northern Italy.
This acquisition is an important step in delivering on Aliaxis’ Growth with Purpose strategy by reinforcing the company’s core strength in Europe.
Eric Olsen, CEO of Aliaxis says, “This is an exciting acquisition for Aliaxis, which strongly underlines our push for complete customer solutions across our entire product portfolio. The acquisition of such a well-established company fully supports our existing business in Italy and throughout Europe. We will provide our customers access to a wider range of advanced solutions in the industrial segment, starting with water treatment. I warmly welcome Lareter into the Aliaxis family.”
The financial details of this agreement will not be disclosed.
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