(DGAP-Media / 16.04.2014 / 08:13) Triton acquires GEA's heat exchanger business Bochum/Duesseldorf, 16 April 2014 - Funds advised by Triton ("Triton") have entered into an agreement to acquire GEA Group's heat exchangers business for an enterprise value of approximately EUR 1.3 billion. The transaction is subject to approval by the relevant antitrust authorities and is expected to close later in 2014. GEA's heat exchanger business is an important manufacturer of heat exchanger products globally and holds strong market positions in Germany and Western Europe. The company offers a diversified product line and an application portfolio including wet and dry cooling systems and components, as well as other project-type businesses. Headquartered in Bochum, Germany, the company employs about 7,300 people worldwide. It generated revenues of EUR1.5 billion in 2013. "GEA Heat Exchangers operates in niche markets with global growth opportunities. Triton looks forward to supporting the management team in developing the company further as a standalone entity," says Peder Prahl, Director of the General Partner of the Triton funds . "This transaction is an important milestone for us, enabling GEA to further focus on the food and beverage industries. We strongly believe that Triton is a highly reputed new owner who shall be able to assist the company through its growth journey", says Jürg Oleas, Chief Executive Officer of GEA Group. "GEA Heat Exchangers has a strong market position, and is well positioned and commercially successful thanks to its excellent product portfolio", says Christoph Michel, CEO of GEA's heat exchanger business. "As an investor, Triton can offer a new perspective, enable us to leverage our growth potential and develop the company into an internationally important provider of heat exchange solutions. We are looking forward to accelerating our growth with the new owner on board." About Triton The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services and Consumer/Health sectors. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 25 companies currently in Triton's portfolio have combined sales of approximately 13 billion Euro and over 55,000 employees. The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey. For further information: www.triton-partners.com About GEA Group GEA Group Aktiengesellschaft is one of the largest suppliers for the food processing industry and a wide range of other process industries. As an international technology group, the Company focuses on process technology and components for sophisticated production processes. In 2013, GEA generated consolidated revenues in excess of EUR 4.3 billion, more than 70 percent of which came from the food sector, which is a long-term growth industry. The group employed about 18,000 people worldwide as of December 31, 2013. GEA Group is a market and technology leader in its business areas. It is listed in Germany's MDAX stock index (G1A, WKN 660 200) and the STOXX(R) Europe 600 Index. Further information is available online at: www.gea.com Media Contact Max Hohenberg Tel: +49 89 599 458 132 Max Loebig Tel: +49 69 5060 375 61 Email: triton@cnc-communications.com End of Media Release =-------------------------------------------------------------------- Issuer: Triton Beratungsgesellschaft GmbH Key word(s): Finance 16.04.2014 Dissemination of a Press Release, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de =-------------------------------------------------------------------- 263470 16.04.2014
(END) Dow Jones Newswires
April 16, 2014 02:13 ET (06:13 GMT)
© 2014 Dow Jones News