Global investment firm Kohlberg Kravis Roberts & Co. L.P.  has agreed to acquire Gardner Denver for $3.9 billion.

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Gardner Denver Inc., with 2012 revenues of $2.4 billion, manufactures highly-engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries.

Michael M. Larsen, Gardner Denver's president and CEO, said, "Gardner Denver will benefit from KKR's track record of execution as the company continues to pursue its strategy focused on driving organic growth, particularly in underserved markets, and building new revenue streams in the aftermarket and through the introduction of innovative customer-centric solutions across its businesses.”

The transaction is expected to close in the third quarter.