STOCKHOLM, Sweden – Swedish pump firm AxFlow Holding has acquired the majority share in AQS Liquid Transfer, an importer and distributor of pumps in South Africa.
The growth initiative is in line with AxFlow’s strategy to expand its business outside Europe.
AQS was formed in 1994 in Pretoria and from its eight branches the company today provides a nationwide sales and pump repair service encompassing a wide range of pump types.
Throughout the years AQS has built a strong market position in South Africa serving the mining industry, utilities and agriculture. Annual sales exceed 140 million ZAR (US$8.7m) with 103 employees.
Ole Weiner, president of AxFlow, said: “Having established a very strong market position in Europe over the past 25 years, we have been looking for ways to expand our business outside Europe. South Africa is an interesting market for us and an important gateway to the continent.”
AQS’ management, headed by managing director Gerhard Prinsloo, will continue to lead and drive forward the company.
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