Danish pump firm Grundfos Pumps announced today (December 3) its acquisition of Peerless Pump company.
Peerless is an American pump and fire systems manufacturer with a turnover of $110m (USD).

By adding Peerless to its portfolio, Grundfos now owns one of the two most recognised high-end water pump brands in the US. It expects Peerless fire protection systems will offer wider global opportunities for the group.

'Grundfos's purchase is intended to get a stronger foothold in the US market. The US has strict fire safety standards. Grundfos can learn more about the fire protection market through a closer association with a firm like Peerless', said a Grundfos spokesman.

Grundfos, with headquarters in Denmark, continues to invest 4% of their total sales in R&D each year.

The US firm's headquarters is based in Indianapolis, employs 400 people and has five other facilities in North America.

A spokesman for Grundfos said 'This the latest and largest acquisition that Grundfos have made to date and underlines the company's aggressive growth strategy.

Grundfos Pumps supplies pumps and pump systems for domestic, commercial building services and process industry applications, as well as being a major supplier to the water supply and treatment industries and provider of packaged fire sets.

The Grundfos group has an annual turnover of £1.4 billion. Grundfos produces over 10 million pumps per year. In 2006 firm's UK sales and marketing's turnover reached £102m.