Triton signs an agreement to sell Polygon
Stockholm (Sweden) July 12 2021 – Triton advised by Triton Partners (“Triton”) have signed an agreement to sell Polygon Holding AB (“Polygon”) to funds managed by AEA Investors LP (“AEA”). AEA, together with the management team, will acquire 100 percent ownership of Polygon. Closing of the transaction is subject to customary regulatory approvals and is expected to occur in Q4 2021.
Since the carve out from Munters and acquisition by Triton in 2010, Polygon has executed on its strategy of preventing, controlling and mitigating the effects of water, fire and climate for its customers. Today, Polygon is a leading property damage control player with 5,500 employees in 16 countries on 3 continents, completing more than 360.000 assignments annually. With a new owner Polygon seeks to continue to drive value for its customers through exceptional service delivery and continued investment behind its innovative and tailor-made solutions combining people, knowledge and technology for a wide range of customer segments.
“We would like to thank the management team, the employees and all other stakeholders for their great contributions to Polygon´s development, including the remarkable M&A journey and digitalization efforts during our ownership. Triton has been the owner of Polygon for more than a decade and we view this as an appropriate time for a new owner to continue to develop the company”, says Peder Prahl, CEO and Managing Partner of Triton
“Polygon, its employees and management team have successfully created a European market leader in property damage restoration by serving a range of sectors including insurance, property management, government and industrial clients. The company now has a sustainable and decentralized business model and is well positioned to accelerate its growth based on best-in-class services and digital enabled technologies. We are thankful that Polygon will find its new home with AEA, and confident that they are the right partner to continue the journey”, says Nadia Meier-Kirner, Co-Head of Business Services and Partner at Triton.
“The change of ownership will give us the possibility to continue our growth journey and we are looking forward to our future cooperation. We are excited to become a new member of the AEA platform, and thankful for the partnership we have had with Triton for the last decade. Polygon remain focused on executing our strategy and serving our clients.”, says Axel Gränitz, President and CEO Polygon Group.
“Polygon represents an exciting opportunity to partner with a leading property damage control player with unique service capabilities, reach and scale”, says Ramzi Gedeon, Partner at AEA. “We look forward to working with the Polygon management team as they continue to grow the business both organically and through acquisitions”.
Polygon is a leading property damage restoration company, serving a range of sectors including insurance, property management and industrial clients. Polygon generated sales of EUR 743 million in 2020 and provides 24-hour coverage delivered by a global network of more than 5,500 employees in 16 countries. We ensure a rapid, accurate response that mitigates loss and effectively manages cost for our customers.
For over 60 years, we have delivered best-in-class service, while our constant investment in our people, technology and equipment ensures that our solutions are proven, repeatable, environmentally sustainable, results-oriented and cost-effective.
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial & technology, services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. 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 improvement and growth. The 48 companies currently in Triton's portfolio have combined sales of around EUR 17.5 billion and employ around 100,000 employees.
For more information: www.triton-partners.com