Bochum/Duesseldorf (Germany), 16 April 2014
GEA's heat exchanger business is an important manufacturer of heat exchanger products globally and holds strong market positions in Germany and Western Europe. The company offers a diversified product line and an application portfolio including wet and dry cooling systems and components, as well as other project-type businesses. Headquartered in Bochum, Germany, the company employs about 7,300 people worldwide. It generated revenues of €1.5 billion in 2013.
'GEA Heat Exchangers operates in niche markets with global growth opportunities. Triton looks forward to supporting the management team in developing the company further as a standalone entity,' says Peder Prahl, Director of the General Partner of the Triton funds .
'This transaction is an important milestone for us, enabling GEA to further focus on the food and beverage industries. We strongly believe that Triton is a highly reputed new owner who shall be able to assist the company through its growth journey', says Jürg Oleas, Chief Executive Officer of GEA Group.
'GEA Heat Exchangers has a strong market position, and is well positioned and commercially successful thanks to its excellent product portfolio', says Christoph Michel, CEO of GEA's heat exchanger business. 'As an investor, Triton can offer a new perspective, enable us to leverage our growth potential and develop the company into an internationally important provider of heat exchange solutions. We are looking forward to accelerating our growth with the new owner on board.'