Gardner Denver doesn't grow flowers in the Mile High City. The company makes blowers, petroleum pumps, and a variety of compressors, such as reciprocating, rotary screw, and sliding vane compressors, as well as positive displacement and centrifugal blowers. Compressed air products are its principal offering. Manufacturing plants and industrial facilities use the compressors to produce durable goods, process petroleum and pharmaceuticals, and treat wastewater. Gardner Denver also makes vacuum products, fluid-transfer products, and well-servicing pumps for oil and natural gas companies. It is adding new lines, such as water-jetting products. About two-thirds of the company's sales come from outside the US.
Gardner Denver sells its products through independent distributors and sales representatives, and directly to OEMs and engineering firms. Customers include goods manufacturers, process industries (petroleum, pharmaceutical, food, and paper), manufacturers of printing equipment, dry and liquid bulk transporters, wastewater treatment facilities, and automotive service centers, to name a few.
Over the years, the company has made impressive positive strides after being stung from the effects of the recession. From 2010 to 2011, its profits soared by 60%, from $173 million to almost $278 million. Revenue levels increased by 25%, from $1.9 billion to almost $2.4 billion. Both Gardner Denver's business segments -- Industrial Products and Engineered Products -- showed increases in orders in 2011.
With revenues up 14% compared to 2010, Industrial Products counts for 53% of the company's overall revenues and includes the former Compressor and Blower divisions and the Multistage Centrifugal Blower operations. The remainder of the company's revenues are generated by Engineered Products, whose orders were almost 40% higher than in 2010, illustrating a higher demand for well-servicing pumps. The Engineered Products division makes custom pumps for OEMs and has achieved a strong presence in the high-growth medical, life sciences, and environmental markets, such as sewage aeration and vapor recovery.
The acquisition of Italian blower and pump manufacturer Robuschi S.p.A. in late 2011 for $200 million and the $12 million purchase of vacuum pump maker ILMVAC in 2010 also attributed to the company's revenue growth. Buying Robuschi increased Gardner Denver's capacity to produce blowers, pumps, and compressor packages across Europe. The ILMVAC purchase strengthened its lab and life science market segment globally, and expanded its geographic presence in Asia and Europe -- all part of the company's strategy to boost sales.
The company also relocated its corporate headquarters to Pennsylvania in 2010 in order to be closer to a major metropolitan area (Philadelphia), which allows for easier travel arrangements in regard to its global operations and clientele. Gardner Denver has offices in 36 countries and serves its global customers with products manufactured at 40 manufacturing facilities located in the Americas, EMEA (Europe, the Middle East, Africa), and Asia/Pacific.
With predecessor companies dating back to 1859, the company's corporate history includes the 1927 merger of the Gardner Company with Denver Rock Drill, forming the Gardner-Denver Company. Cooper Industries acquired the company in 1979 and spun it off 15 years later. Since 1994 Gardner Denver has acquired almost 25 firms. – less