EMP leadership has today announced to employees, customers, and suppliers that the Company has strategically agreed to be acquired by Concentric AB, a Swedish based company headquartered in the United Kingdom. Like EMP, who focuses primarily on North American markets, Concentric’s mission is to design, develop, manufacture, and sell high quality, customer focused solutions for hydraulic and engine applications across global end-markets.
EMP expects the strategic acquisition to be finalized by October 29, 2021.
According to Brandon Larche, President and COO of EMP – “by aligning with Concentric, we gain additional scale, resources and access to a successful global organization that is committed to innovation and growth. While EMP has a long history of serving major OEM’s in the North American market, a global footprint with strong relationships with major international customers will quickly serve to drive our growth in Europe and Asia. With our combined synergies, I am confident that Concentric is the ideal global partner to carry on the EMP name and legacy.”
Larche added ”we’ve also assured our employees, customers, and suppliers that there will be no changes to any of our operations on a day-to-day basis. It’s business as usual for EMP – our EMP identity, culture, and focus remains the same. This is a strategic move that will benefit all stakeholders; it creates a robust and financially strong global engineering and advanced manufacturing platform dedicated to serving both the current and future needs of current and future valued customers. For us, it will continue to always be about meeting and exceeding the needs of our customers.”
According to Larche, EMP will continue to operate from its’ existing sites in Escanaba, Michigan and Greenfield, Indiana; and EMP employees will continue in their current roles with no disruption to operations.
He noted “Concentric will support EMP to grow sales globally by utilizing their global sales team, in conjunction with EMP’s current North America sales team. Concentric will also look to invest in the business in support EMP’s electrification and precision machining global growth plans. Our expectation is to create additional security in jobs and opportunities for employees in both Escanaba and Greenfield. Strategically, a combined EMP & Concentric is stronger together, particularly in the communities where we operate, and I look forward to continuing to lead the EMP team within the combined organization.”
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