(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
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Issuer: Triton Beratungsgesellschaft GmbH
Key word(s): Finance
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April 16, 2014 02:13 ET (06:13 GMT)
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