Industrial equipment maker Gardner Denver Inc. (GDI) has attracted renewed interest from private equity firms KKR & Co. L.P. (KKR) and Advent International Corp. after the company ended merger talks with diversified machinery company SPX Corp. (SPW), Bloomberg reported Tuesday, citing people familiar with the matter.
According to Bloomberg, Wayne, Pennsylvania-based Gardner Denver will begin meeting next week with Advent and KKR in addition to a team formed by private equity firms TPG Capital and Canada-based Onex Corp. (OCX.TO).
In early December, Charlotte, North Carolina-based SPX was said to be in exclusive talks to buy Gardner Denver. At that time, Gardner Denver reportedly asked the private equity bidders KKR, Advent International, and the TPG Capital-Onex consortium to wait until January, as it was negotiating with SPX.
According to the Bloomberg report, Gardner Denver's talks with SPX ended in late December as SPX could not get the terms it wanted on a loan.
SPX is said to have offered about $85 per share in cash and stock to buy Gardner Denver. The private equity firms are believed to have placed their earlier offers in a range of low- to mid-$70 per share in cash. Gardner Denver has a market capitalization of $3.36 billion.
GDI closed Tuesday's trading at $68.34, down $0.31 or 0.45 percent on a volume of 3.09 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.