Triton signed agreement to acquire Rexroth Pneumatics
Hannover/Laatzen, 16 September 2013 - Funds advised by Triton have signed an agreement to acquire Rexroth Pneumatics, a specialised pneumatics manufacturer and subsidiary of German drive and control company Bosch Rexroth. The transaction is funded by the "Triton IV" fund and includes all assets of the carved out entity Rexroth Pneumatics. The transaction is subject to approval by the relevant anti-trust authorities. Both parties have agreed not to disclose further details.
"Rexroth Pneumatics has the potential to benefit from market growth driven by an increasing global trend towards automation. We are confident that focused investment will enable the company to operate successfully as a stand alone entity," said Peder Prahl, Director of the General Partner of the Triton funds.
"The sale of our activities to Triton - an owner with broad experience in the successful management of medium sized companies - was the next logical step in the successful development of our pneumatics business," said Karl Tragl, CEO of Bosch Rexroth.
Rexroth Pneumatics, headquartered in Hannover/Laatzen, developed into a leading pneumatics specialist following the merger of Bosch Automation and Rexroth Pneumatics in 2001. The company produces high quality parts such as valves and cylinders for industrial machinery, the automotive and transportation industry, the energy sector and other areas. Rexroth Pneumatics has a strong innovation track record in developing customer specific solutions. Rexroth Pneumatics has about 2,100 employees in five production sites in Germany, France, Hungary, USA and China and operates a global sales network in more than 35 countries.
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 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 12.9 billion Euros and over 52,000 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