DGAP-News

AURELIUS sells compressor manufacturer SECOP to the Nidec Group and doubles its dividend - Seite 2

SECOP is a global provider of specialised compressors for refrigeration and freezer appliances operating in the "Household" and "Light Commercial" segments. SECOP's Household division is a leading provider of compressors for refrigerators and freezers in Europe. In its Light Commercial division, the company is selling compressors for Commercial applications such as frozen goods counters in supermarkets and hermetic DC compressors such as those used in cooling units in trucks. In all areas, the company benefits from the ongoing trend towards energy efficiency and sustainable refrigerant technologies.

Successful development since acquisition by AURELIUS in 2010

In 2010, AURELIUS took over the Household Compressors business division from the Danish Danfoss Group as part of a group spin-off. At the time, the business was focused on commodity compressors and generated negative earnings. AURELIUS has since made strenuous and successful on-the-ground efforts to develop SECOP into a profitable high-tech niche player focusing on energy-efficient compressors: in the past seven years, substantial resources were invested in the development of new compressor platforms and in optimising production processes.

To improve competitiveness, the company underwent an extensive alignment of its cost base. Measures included consolidating European production locations in Slovakia. The takeover of the Austrian compressor manufacturer ACC Austria in December 2013 allowed AURELIUS to strengthen the company strategically and in a targeted manner and to expand its market position. This add-on acquisition was AURELIUS' largest to date and resulted in a combination of technological competencies of two previously separate worlds. A rigorous focus on electronically controlled compressor platforms in all business areas allowed AURELIUS to transform SECOP into a globally recognised specialist. The result of focusing on energy-efficient compressors was an average annual revenue growth (CAGR) of 60 % in the XV variable-speed compressor product line, whose energy efficiency is up to 40% higher compared to competing technologies.