Mannheim/Frankfurt (Germany), 1 September 2014 - Funds advised by Triton have successfully closed the acquisition of the German auxiliary components business ARVOS Group. The business was previously known as the steam auxiliary components business of Alstom's Thermal Power division.
"The ARVOS Group offers a comprehensive product and service portfolio across the three divisions Ljungström, Schmidtsche Schack and Raymond Bartlett Snow and has great potential for growth in its core business areas. Triton looks forward to working with the management team and employees to strengthen and grow the company," said Peder Prahl, Director of the General Partner for the Triton funds. Thorsten Holl, CEO of the ARVOS Group, added: "We are pleased to have found an expert partner in Triton that understands our business and has recognized the opportunities in our global markets."
The auxiliary components business was previously part of the steam segment within Alstom's Thermal Power division. It is active both in the new equipment market and aftermarket services in three product lines air pre heaters and gas-gas heaters for thermal power generation and industrial facilities; heat transfer solutions for industrial processes; grinding mills (including thermal equipment) used in industrial applications and for power generation application for facilities with output below 100 MWe. The company will be headquartered in Heidelberg, Germany and employs over 1,700 people worldwide, with operations in Germany, the USA, Japan, China, India, Brazil, Switzerland and the Czech Republic. In the fiscal year ending 31 March, 2014, the business generated revenues in excess of €400 million, with strong growth prospects for the years ahead.
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.