Acquisition of GEA Heat Exchangers by Triton is finalized
2014/10/31 After receiving the required approvals, Triton* has legally finalized its acquisition of GEA Heat Exchangers, as part of a so-called closing procedure.With this closing and with assumption of the activities of GEA Heat Exchangers, Triton takes over all companies in the former group, as well as all staff.
Christoph Michel, CEO of GEA Heat Exchangers Group, welcomes the new situation:“In Triton, we have a trustworthy partner that will strengthen and support our future activities.”Except for a new brand name that will be rolled out mid-term, he explains, nothing will change for the customers of GEA Heat Exchangers as a result of the move from GEA Group to Triton:“All projects and orders will be executed as accustomed, and our customers’ familiar and trusted contact partners in Sales and Support will now as before stand at their side.”
Company positions will be further developed in markets such as power generation, exploration, chemistry and petrochemistry, food and beverages and other process industries, as well as water and air treatment.The portfolio will be developed on a more customer-oriented basis.
This process will include internal reorganisation of business units within the GEA Heat Exchangers Group, which will now – in a simplified structure – serve the market in three Segments.One Segment will focus on the areas of climate and environment, with activities including all products for applications of HVAC technology.
The second Segment will concentrate on solutions in the area of major power-generation projects.These efforts will include wet cooling towers, dry cooling systems, filing media for cooling towers, as well as further applications.
The third Segment consists of systems and components for further heat exchanger application areas such as those in the markets of oil and gas and petrochemistry, food and beverages, marine and transportation systems.These include plate heat exchangers, finned-tube heat exchangers, as well as shell-and-tube heat exchangers, which are used in a great number and variety of processes.
This orientation will be accompanied by establishment of a new brand.An autonomous profile for our heat exchanger activities – a profile that is independent of GEA – will prove effective in future penetration of new markets.At the same time, this corporate profile will express the values of the brand GEA that our regular customers have learned to respect, as well as the benefits of our product brands.We will continue to use the name “GEA” until introduction of the new brand.
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 29 companies currently in Triton's portfolio have combined sales around €13.5 billion and more than 60,000 employees.The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com
Press Affairs and Public Relations:
HX Holding GmbH
Tel.:+49 (0)234 980-2584
Information on GEA Heat Exchangers Group (HX)
GEA Heat Exchangers Group (HX), with home offices in Bochum (Germany), offers one of the world’s most extensive product portfolios on the market for heat exchangers.With plate heat exchangers, shell-and-tube heat exchangers, air-cooled heat exchangers, air filter systems, wet cooling towers, dry cooling systems, and synthetic filling media – as well as air treatment systems for numerous application areas – the company reaches customers in global markets for power generation, oil and gas, chemistry, marine applications, climate and environment, water and wastewater treatment, and food and beverages.GEA Heat Exchangers focuses on customer-specific products and services and serves its target groups throughout a global production and service network.Until December 31, 2013 the company had generated annual sales of approx. 1.5 billion euros and employed around 7,300 staff around the world.For more details on GEA Heat Exchangers Group (HX), please consult www.gea-hx.com