Lindsay completes acquisition of Lakos

Lindsay completes acquisition of Lakos in all-stock deal

Associated Press

OMAHA, Neb. (AP) -- Irrigation systems seller Lindsay Corp. said Friday that it has completed the acquisition of Claude Laval Corp., also known as Lakos Separators and Filtration Solutions.

The company said it was an all-stock deal but did not disclose the other financial terms.

Lakos, based in Fresno, Calif., is a privately held company that sells filtration products for groundwater, agriculture, industrial and other markets. The company has approximately 125 employees and annual revenues between $25 million and $30 million.

Lindsay, based in Omaha, Neb., said that this represents a key strategic addition to its portfolio of companies and is an expansion some of its specialty capabilities. The company expects the acquisition will be accretive in its 2014 fiscal year.

Shares of Lindsay added $1.04 to close at $75.18 and were unchanged in after-hours trading following the announcement.

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