Triton announce acquisition of Flakt Woods group
GERMANY – Funds advised by Triton have announced that they have reached and signed an agreement to acquire Fläkt Woods Group, a leading provider of air technologies solutions for HVAC systems for the best Air Comfort & Fire Safety environment. The parties have agreed not to disclose the purchase price. The transaction is subject to regulatory approval in the relevant jurisdictions.
“We want to support the management and employees of Fläkt Woods as a stable owner in investing in and supporting the growth and development of the company. We will contribute with our strategic insights and operational know-how in this industry. 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.
“This transaction is an important milestone, enabling us to leverage our past developments and to bring the Group to the next level with a focus on air technology around connected and integrated HVAC solutions. We welcome Triton as a new majority owner, and a respected investor who will support us in future value creation plans and expanding our market positions”, said Didier Forget, Chief Executive Officer of Fläkt Woods Group.
About Fläkt Woods Group
Fläkt Woods is a global Air Technology leader providing best Air Comfort and Fire Safety Solutions for people at work, at leisure or at home. With focus on Energy efficiency, Fläkt Woods provides all five critical Air Functions for HVAC Systems, i.e. Air Movement, Air Treatment, Air Management, Air Diffusion and Air Distribution. Founded in 1909, Fläkt Woods today has more than 2,100 employees and earns 423 million Euros in sales. It has locations in over 25 countries in all regions of the world. The Fläkt Woods brand stands for high-quality products, systems and components in the HVAC industry in Europe, North America and Asia: Caryaire, Iloxair, Semco and Climate Consult.
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.
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 27 companies currently in Triton’s portfolio have combined sales of over approx. € 12 billion and around 55,000 employees.
The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey.