Triton completes sale of Wittur to Bain Capital
Frankfurt/Wiedenzhausen (Germany), 30 March 2015 - Funds advised by Triton closed the sale of Wittur, one of the world's largest independent suppliers of elevator components and systems, to funds managed by Bain Capital Europe LLC ("Bain Capital"). Bain Capital acquired 100% ownership of Wittur. Triton has supported the business since the acquisition in 2010. The management of Wittur, under the new leadership of Dr. Walter Rohregger, has executed a number of growth and operational improvement initiatives to develop the company. The most noteworthy developments include new product developments for emerging markets, a significant strengthening of the organization and the leadership team as well as a substantial improvement of the production facilities. The transaction was signed on the 23rd of December 2014. The parties have agreed not to disclose the purchase price.
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. As agents of positive change it works towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales around €14 billion and more than 61,000 employees. The Triton funds are advised by its head adviser Triton Advisers Ltd and sub-advisers with dedicated teams of investment professionals in United Kingdom, Germany, Sweden, Norway, Denmark, Luxembourg, Jersey and China.
For further information: www.triton-partners.com