Triton agrees €1.3bn buyout for GEA heat exchanger business


flame_lrgEuropean buyout house Triton Partners has agreed a €1.3bn buyout for the heat exchanger business of GEA Group.

The unit manufactures heat exchanger products for the global market and holds strong positions in Germany and Western Europe.

Headquarted in Bochum, Germany, the business employs about 7,300 people worldwide and had revenues of €1.5bn last year.

Triton general partner Peder Prahl said, “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.”

Earlier this month Northern Europe-focused Triton agreed a deal for the auxiliary components business of Alstom’s thermal power division for an enterprise value of about €730m.

The business provides air preheaters and gas-gas heaters for thermal power stations, heat transfer equipment for petrochemical and industrial processes, and grinding mills for diversified industrial applications.

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