Hallam, Victoria-headquartered BKB Pumps & Tanks will be merged with Grundfos’s Australian Commercial Building Services (CBS) team to create BKB Building Solutions Pty Ltd.
BKB Building Solutions will operate independently of Grundfos Pumps, with its own management team and board of directors. The two existing major shareholders of BKB Pumps & Tanks Pty Ltd, Bala Thuraisingam and Jeya Thuraisingam, will remain part of the BKB Building Solutions management team as general and deputy general manager respectively.
Søren Sørensen, Grundfos group executive vice president, said: “Australia is an important contributor to the overall business success of the Grundfos Group. It is a particularly strong contributor to the success we have seen over the years in the Asia Pacific region, and we expect the acquisition of BKB to further strengthen our local and global growth. This new initiative provides further access to the commercial building services market, through both a sales and service set-up, and more importantly, provides added value to our Australian customers.”
Steen Holm Jensen, general manager of Australia’s Grundfos Pumps Pty Ltd, has been newly appointed as chairman of the BKB Building Solutions board of directors. “Through this partnership, this new entity will strengthen our roads to market and allow us to accelerate our local growth within the commercial buildings industry,” said Holm Jensen.
Bala Thuraisingam, general manager of BKB Building Solutions, said: “Despite commercial construction suffering some tough times in recent years, the commercial buildings sector is embracing innovative green technologies. BKB Building Solutions is fully committed to bringing the most innovative, greenest and energy efficient solutions to our customers in Australia – and Australian manufactured pump sets, tanks and controllers are a major plan for business growth nationally into this market sector. With our strengthened linkage to Grundfos’s leading R&D capabilities in the pump systems industry, and Grundfos’s financial strength, we are convinced BKB Building Solutions, through a national organisation, will be a preferred partner to the leading players in the industry.”
The deal is expected to close by early April 2013.
