Galapagos Holding S.A. announces sale of minority stake in Fläkt Group subsidiary and acquisition of Rocore Group
Luxembourg (Luxembourg), 13 August 2018 – Galapagos Holding S.A. (“Galapagos Holding”), a Triton Fund IV company, announced that Galapagos BidCo S.à r.l. (a subsidiary of Galapagos Holding) will sell all of its remaining equity interests in Fusilli Co-Invest S.à r.l., a holding company in Triton Fund IV company Fläkt Group, for a price of €64 million. It further announced that its subsidiary Kelvion Holding GmbH will acquire all shares in Rocore Holding GmbH and its direct and indirect subsidiaries (“Rocore Group”) for a cash price of €34 million. It is expected that the sale and acquisition will be consummated within the next four weeks.
About Rocore Group
Rocore, headquartered in Indianapolis, USA was founded in Greendale, Wisconsin in 1984 as a supplier of fabricated sub-assemblies used in heavy duty industrial radiators.
Today Rocore focuses on heavy duty industrial end markets including Power Generation, Petrochemical, Oil & Gas, Rail, On-Highway and Off-Highway. Rocore maintains five operating facilities in the USA & one outside the USA, plus multiple sales offices. Rocore supplies a wide variety of heat exchange solutions, products and services into its identified end market segments.
With over one million heat exchangers manufactured, Rocore’s foundation is truly built around customer satisfaction through our service, product quality, capability and flexibility to meet customer needs.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing 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 34 companies currently in Triton's portfolio have combined sales of around €12.3 billion and around 81,000 employees.
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