Pedrollo Group acquires majority stake in PM

Pedrollo Group expands its range and enriches its expertise in the field of submersible motors.

The Pedrollo Group, active in the movement of water, energy transformation, and applied technology sectors and a recognized world leader in the production of electric pumps, announces the acquisition of a majority stake in PM Srl, owner of the PM Technology brand. 

The company from Brendola (VI) in the Veneto region of Italy founded in 2008 has quickly established itself among the Italian and international market leaders in the production of submersible motors. Among its strengths is the experience of its founding partner, Marco Petrucci, who has been able to combine the application of the latest technologies to produce an extremely reliable, efficient and competitive product range. The newly acquired company, which will close 2023 with revenues of 22 million euros, will be consolidated from the first quarter of 2024 and will allow, thanks to a diversified and internationally certified product portfolio, to quickly increase the production capacity of the Group, already present in the sector with Panelli and Pedrollo itself. With the acquisition of PM, the Group consolidates a leadership position in the field of submersible motors and, consequently, also in that of submersible electric pumps, in ranges characterized by high volumes particularly within domestic and civil sectors.

PM's founder, Marco Petrucci will continue, as a minority shareholder, to guide its operational management, thus consolidating the company's success and growth within the Pedrollo Group. With this transaction, PM will be able to benefit from the Group's industrial, technical and, above all, commercial ecosystem with its outlet to strategic markets, first and foremost the United States. PM represents the fourth acquisition completed by the Veneto-based group as of 2019 -after Panelli, the U.S.-based Superior Pump and Spain's Saci Pumps - as part of a strategy aimed at further verticalizing and internationalizing the business on a global basis. With the acquisition of PM, 2024 aggregate sales will exceed 500 million euros, contributing to the Group's growth with a substantial doubling compared to 2019.

Giulio Pedrollo, Group CEO, stated, "PM Technology is a well-established brand and its excellence is well recognized by the market: the Made in Italy manufacturing quality, family management, solid financial discipline and shareholder foresight unite us in a common business vision which will speed up the integration within the Group. We have long collaborated with PM with mutual satisfaction. The partnership we have just concluded will enable us to further increase investments in Italy and confirms the Group's decision to keep production firmly rooted in the Veneto region and to strengthen our closeness to its electromechanical supply chain."

Marco Petrucci, CEO of PM, added: "In an industry sector experiencing ever more consolidation and in which achieving critical mass is now vital, I considered the opportunity to join the Pedrollo Group, with which we have already been collaborating for years and with which we share a common business vision, a necessary step for PM's future development. Joining the Pedrollo Group is, for us, the best possible opportunity in terms of cost synergies, outlets to new markets as well as the ability to share the Group’s industrial platform and capabilities for new projects. In light of this even closer cooperation, we are confident that we will grow further and faster in the motor and submersible pump segment."