Triton acquires the auxiliary components business of Alstom's Thermal Power division
(DGAP-Media / 01.04.2014 / 09:46)
Triton acquires the auxiliary components business of Alstom's Thermal Power
division
Paris/Mannheim, 1 April 2014 - Funds advised by Triton ("Triton") have
entered into an agreement to acquire the auxiliary components business of
Alstom's Thermal Power division for an Enterprise Value of around EUR730
million. The transaction was approved by the Board of directors of Alstom
on 31 March. The transaction is expected to close before the end of 1st
half of fiscal year 2014/15.
The auxiliary components business is part of the steam segment within
Alstom's Thermal Power division and is active both in the new equipment
market and aftermarket services across three product lines: air preheaters
and gas-gas heaters for thermal power plants, heat transfer solutions for a
variety of petrochemical and industrial processes, and grinding mills for
diversified industrial applications. Headquartered in Mannheim, Germany,
the company employs over 1,500 people worldwide, with operations in
Germany, the USA, Japan, China, India, Brazil, Switzerland and the Czech
Republic. For the fiscal year ending 31 March, 2014, the business is
expected to generate revenues in excess of EUR430 million, with strong
growth prospects for the years ahead.
"Triton looks forward to working with the management team and employees to
strengthen and grow the company," says Peder Prahl, Director of the General
Partner of the Triton funds.
"This transaction highlights the strength and value of Alstom portfolio of
activities, and illustrates the group's ability to deliver on its strategy
of selective, value-enhancing disposals", said Nicolas Tissot, Chief
Financial Officer of Alstom.
The development of the business will rely on a mutually beneficial
relationship between Triton and Alstom. Philippe Cochet, President of
Thermal Power added: "This sale will ensure a solid future for employees
and a sustainable quality of service for customers. Alstom, which already
contributed up to 20% of the sales, will remain a major customer."
About Triton
The Triton funds invest in and support the positive development of
medium-sized businesses headquartered in Northern Europe - with a focus on
Germany, Switzerland, Austria and the four Nordic countries: Denmark,
Finland, Norway and Sweden. Within this European region, Triton focuses on
businesses in the Industrial, Business Services, and Consumer/Health
sectors.
Founded in 1997, 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 improvements and growth.
The 25 companies currently in Triton's portfolio have combined sales of
approximately 13 billion Euro and over 55,000 employees.
The Triton funds are advised by dedicated teams of investment professionals
based in Germany, Sweden, United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com
Media Contact
DACH
Max Hohenberg
Tel: +49 89 599 458 132
Email: triton@cnc-communications.com
UK
Fiona Micallef-Eynaud / Edward Moore
Tel: +44 207 404 5959
tritonlondon@brunswickgroup.com
End of Media Release
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Issuer: Triton Beratungsgesellschaft GmbH
Key word(s): Finance
01.04.2014 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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260866 01.04.2014
strengthen and grow the company," says Peder Prahl, Director of the General
Partner of the Triton funds.
"This transaction highlights the strength and value of Alstom portfolio of
activities, and illustrates the group's ability to deliver on its strategy
of selective, value-enhancing disposals", said Nicolas Tissot, Chief
Financial Officer of Alstom.
The development of the business will rely on a mutually beneficial
relationship between Triton and Alstom. Philippe Cochet, President of
Thermal Power added: "This sale will ensure a solid future for employees
and a sustainable quality of service for customers. Alstom, which already
contributed up to 20% of the sales, will remain a major customer."
About Triton
The Triton funds invest in and support the positive development of
medium-sized businesses headquartered in Northern Europe - with a focus on
Germany, Switzerland, Austria and the four Nordic countries: Denmark,
Finland, Norway and Sweden. Within this European region, Triton focuses on
businesses in the Industrial, Business Services, and Consumer/Health
sectors.
Founded in 1997, 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 improvements and growth.
The 25 companies currently in Triton's portfolio have combined sales of
approximately 13 billion Euro and over 55,000 employees.
The Triton funds are advised by dedicated teams of investment professionals
based in Germany, Sweden, United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com
Media Contact
DACH
Max Hohenberg
Tel: +49 89 599 458 132
Email: triton@cnc-communications.com
UK
Fiona Micallef-Eynaud / Edward Moore
Tel: +44 207 404 5959
tritonlondon@brunswickgroup.com
End of Media Release
---------------------------------------------------------------------
Issuer: Triton Beratungsgesellschaft GmbH
Key word(s): Finance
01.04.2014 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
260866 01.04.2014