Wednesday, August 20, 2014
Inquirer Daily News

St. Joe's MBA moves his $2B company home to Philly

Barry Pennypacker is relocating Gardner Denver Inc. to the Philadelphia area.

St. Joe's MBA moves his $2B company home to Philly

Gardner Denver, Inc.'s decision to move its global headquarters and legal, computer and financial services, away from its pump and compressor plants in the Mississippi River town of Quincy, Ill., to the Philadelphia area (site as-yet undetermined), followed a "relocation analysis with the help of an external consultant" in search of better "accessibility to (U.S. and foreign) customers," plus "a broader pool of local professional" job applicants, CEO Barry L. Pennypacker said in a statement yesterday.

Pennypacker
didn't mention that he's a graduate of Penn State and St. Joe's MBA program; since CEO preference is an important part of corporate location, we don't think that hurt this region's chances.  He did thank " the Pennsylvania Governor's office and Select Greater Philadelphia" for helping sell his company on Philly (what did they give the company, exactly?) Gardner Denver is a publicly-traded company with sales of $1.8 Billion in pumps, compressors, and cargo-transfer equipment.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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