Frankfurt - Funds advised by Triton ('Triton') have signed an agreement to acquire Rocore Group, a leading US producer and supplier of heat exchange products. The business produces a variety of heat exchange products focussing on the US market.
'We want to support the management and employees of this business as a stable owner by investing in and supporting the growth and development of the company. We will contribute our strategic insights from the heat exchange industry and may consider to combine the businesses with Kelvion in our heat exchanger portfolio mid-term. We look forward to working together with the management team and the Board of Directors in building a stronger company', said Peder Prahl, Director of the General Partner for the Triton funds.
'Rocore Group, as one of the market leaders in the US, has been building its current presence over the last four decades. This transaction is an important milestone, enabling us to continue with our strategic efforts. We welcome Triton as a new majority owner and a respected investor who will embrace the execution of our plans for expanding our market positions in current areas of focus and to leverage synergies within their heat exchange portfolio', said Stuart D. Eden, CEO and President of Rocore Group.
“Rocore is a great company with an impressive growth profile. We are convinced about the positive fundamentals of that industry segment and looking forward to leverage synergies to further grow the firm”, added Herbert Doleisch, Investment Advisory Professional and Advisor to the Triton Funds.