Triton Fund III acquires Logstor
- Leading supplier of pre‐insulated pipe systems for district heating and cooling in Europe
- Potential for continued growth in new markets and applications within the oil & gas sector
22 June 2013 - Triton Fund III has entered into an agreement to acquire LOGSTOR from funds managed by Montagu Private Equity and other shareholders. The acquisition of LOGSTOR is subject to approval by competition authorities. The terms of the transaction were not disclosed.
Denmark-based LOGSTOR offers complete pre-insulated pipe systems for transportation of gases and liquids for district heating and cooling networks, marine and industrial purposes as well as oil and gas pipelines.
District heating and cooling networks are increasing in demand as the most energy efficient, safe, well-proven and environmentally responsible ways to provide heating and cooling to buildings. Pre-insulated pipe systems from LOGSTOR, using unique and effective insulation, are designed specifically to keep energy loss from district heating and cooling systems to the absolute minimum.
Thanks to the dedication of its 1,300 professionals, technological leadership, high quality and strong local production presence, LOGSTOR is a leader in these types of systems. The unique features of LOGSTOR's pre-insulated pipes also make them ideal for applications within the oil and gas sector as well as for the transportation of virtually all kinds of gases and liquids requiring a controlled temperature.
"Triton sees an attractive platform for growth, given LOGSTOR's technological edge and its operational capabilities. There is excellent expansion potential for district heating and cooling networks both in Europe and in overseas geographies. Triton looks forward to working with LOGSTOR's management and employees to strengthen and grow the company", said Peder Prahl, a director of the General Partner of Triton Funds.
Triton Fund III will acquire all the shares in LOGSTOR and intends to invite Management and key personnel to be co-owners of the company.
LOGSTOR is the leading supplier of pre‐insulated pipe systems for energy‐efficient transportation of liquids and gases for district heating and cooling, marine and industrial purposes as well as oil and gas pipelines. The systems consist of pipes, joints, fittings and surveillance. Inventing the pre-insulated pipe technology more than 50 years ago, LOGSTOR has delivered more than 170,000 km of pre‐insulated pipes.
Headquartered in Løgstør, Denmark, LOGSTOR has subsidiaries in Austria, China, Finland, France, Germany, Italy, Lithuania, the Netherlands, Poland, Romania, Russia, Sweden and Switzerland as well as a network of agents and sales offices. The Group's 10 production facilities are situated in Denmark, Poland, Sweden, Finland and China. The Group employs approx. 1,300 people.
For further information: www.logstor.com
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.
Founded in 1997, Triton seeks to pro-actively 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 23 companies currently in Triton's portfolio have combined sales of approximately €11.7 billion and over 47,000 employees.
The Triton funds are advised by dedicated teams of investment professionals based in China, Jersey, Germany, Luxemburg, Sweden and the UK.
For further information: www.triton-partners.com