Mergers & acquisitions and partnerships to bring powerful and efficient cryogenic pumps
Expanding product offerings and enhancing the capabilities of products are at the forefront of the manufacturers of cryogenic pumps. They have adopted various strategies to achieve their objectives, gain international presence, and gain a major market share in the global market. Merging companies to maintain quality, services, and expertise for existing and new customers along with business partners is essential. The Elliot Group adopted a strategy of the merger with Ebara International Corp. Another market player Atlas Copco acquired the cryogenic pump division of Brooks Automation for enhancing the capabilities of its existing products with cryopumps assisting in the elimination of water vapor and hydrogen. A company named Dearman formed a partnership with Productiv for testing and development of new pumps to improve the power and efficiency of its engines along with achieving excellence. Market players have adopted various strategies to achieve their objectives. The industry for cryogenic pumps is experiencing significant growth and will continue to grow in the coming years. According to the report published by Allied Market Research, the global cryogenic pump market is estimated to reach $592 million by 2023. The following are some of the major activities taking place in the industry.
Joining hands with other market players will enhance the capabilities of both companies and help in gaining more market share. The merger has become one of the crucial strategies of market players. The Elliot Group merged with Ebara International Corp. Elliot will play a crucial role in the development of cryogenic pumps for the Nevada-based company Ebara. Elliot will hold the position of a wholly-owned subsidiary of Ebara and the cryopumps and expanders will be under the Cryodynamics brand. According to the press release by the company, the pumps and expanders will be produced at the headquarters and factory at Jeannette. The merger talks began between two companies in 2017 and moved ahead as there were common synergies in product lines, markets, and customer bases. Michael Lordi, the CEO of Elliott Group outlined that the merger will be a good fit. Both companies have been working closely with each other since the year and a half to maintain continuity of quality, service, and expertise for business partners and new & existing customers.
Along with the merger, the trend of acquisition is taking ground across the world. Atlas Copco, a leading provider of sustainable productivity solutions, acquired the cryogenic division of Brooks Automation, Inc. As per the terms of the acquisition, Altas will overtake cryogenic pump operations in Chelmsford, the U.S., and operations of the worldwide network of sales and service centers in Monterrey, Mexico, and Brooks Automation’s 50% share of Ulvac Cryogenics, Inc., (UCI). Geert Follens, the President of Atlas Copco’s Vacuum Technique business area, outlined that the acquisition enables the company access to new technologies and products along with complementing its existing offerings of the semiconductor chamber solutions. The Altas’s global presence will be utilized to expand the application of products and technologies to emerging medical and energy markets. The acquired business is expected to extend the technology offerings of Atlas Copco to customers operating in the semiconductor and general vacuum industries via the Edwards business, a subsidiary of the Atlas Copco Group. This acquisition is helpful for the existing technology portfolio of Atlas as a new range of high vacuum pumps that maximize the elimination of water vapor and hydrogen can be utilized.
Forming partnerships to develop better products than the existing ones in the market is one of the crucial strategies market players can adopt. Dearman tested a cryogenic pump that has been developed in partnership with Productiv as a part of the environmental transport program. Product, the clean cold company outlined that it delivered the prototype of the component to the Dearman-Hubbard TRU in January 2019. The pump, which is a part of the Cryogenic Engines for Mobile Zero Emission Power (CEMZEP) program, provides liquid nitrogen (LiN) from the tank. This tank is installed under the refrigerated trailer and a heat exchanger is used to pump the LiN. The nitrogen enhances in size in Dearman engine, where it can be blended with water or glycol heat exchange for improving power and efficiency.
Commenting on the testing of the pump, Chris Owen, the Head of Cryogenics at Dearman, outlined this new pump aligns with the Dearman’s aim for excellence. This pump also offers efficiency improvements for zero-emission TRU, at the same time, makes the offerings of Dearman more competitive. He added that the pump has been developed in partnership with a team at Productiv and it has the potential to become a better machine than those available in the market. The company would manufacture new cryogenic pumps at the London Technology Center with its CNC milling machines. These pumps enable the company to produce bespoke components for its clean cold technology on-site along with lowering lead times and costs considerably.
