“The US market has a significant growth potential, and, seen in that perspective, the acquisition of Peerless is of great strategic importance to Grundfos,” said Carsten Bjerg, group president and CEO of Grundfos Group.
Currently, Grundfos’ sales in North America are $300 million. The US pump market alone is estimated to be $6 billion. With the latest acquisition, Grundfos expects to double sales within a four-year period, reaching $600 million.