GEA Group concludes agreement on the sale of the Heat Exchangers Segment to Triton
2014/04/16 The Düsseldorf-based mechanical engineering group GEA Group announces the sale of its Heat Exchangers (HX) Segment to funds advised by Triton.The purchase agreement was signed today.The sale is based on an enterprise value of approx. 1.3 billion euros.The transaction is still subject to the approval of the competent antitrust regulators.Closing of the transaction is expected by the end of the year.
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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® Europe 600 Index.
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 EUR 13 billion 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.