Sweden’s AxFlow Holding AB has acquired a majority stake in AQS Liquid Transfer Ltd, an importer and distributor of pumps in South Africa. AQS has annual sales of more than R140 million and employs 103 people.
The move is in line with AxFlow’s strategy to expand its business outside Europe. The fluid handling equipment distributor has operations in 27 European countries.
Founded in 1994, Pretoria-based AQS provides a nationwide sales and pump repair service. The company serves the mining, utilities and agriculture industries from eight branches.