Swedish-based industrial group Atlas Copco AB agreed to acquire Edwards Group Limited, a U.K-based global supplier of vacuum and abatement solutions for the chemical and semiconductor industries, in a $1.6 billion deal. The purchase will be Atlas Copco’s biggest in 14 years.

The deal has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first quarter of 2014.

Corporate partners Stephen Rusmisel and Don Kilpatrick led the cross-practice Pillsbury team advising Atlas Copco. Members of the team included James Campbell, Samuel Pearse, Courtney Reichuber, Adam Walczak in Corporate; Scott Landau and Bradley Benedict in Executive Compensation & Benefits; Chuca Meyer in Regulatory; and Jim Chudy, Anne Fairpo, Harsha Reddy and Nora Burke in Tax.

“Edwards is a technology leader with a well-developed structure and solid customer relationships in industries we know well. It is a great fit for Atlas Copco,” said Ronnie Leten, President and CEO at Atlas Copco, in a press release. “The vacuum solutions market is growing and has similar characteristics to our existing industrial businesses.”

Edwards will become part of Atlas Copco’s newly-created vacuum solutions division within the Compressor Technique business area.