World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

GEA sells heat exchanger interest for €1.3bn

gea_zentrale_luft_1
The GEA Heat Exchangers headquarters in Bochum, Germany

GERMANY: GEA has sold its heat exchanger business to private equity firm Triton for €1.3bn.

GEA announced its intention to sell its heat exchanger division in June last year in order to focus on its core business as system provider to the process and food industries.

The transaction is still subject to the approval of the competent antitrust regulators. Closing of the transaction is expected by the end of the year.

GEA Heat Exchangers comprises 13 companies supplying products across a wide range of markets and includes UK businesses Searle and Denco and the German refrigeration companies Kuba and Goedhart.

“We are pleased that, with Triton, we have found a reputable owner for the Heat Exchangers Segment,” said GEA chairman Jürg Oleas. ‘HX has a strong foothold in the market, enjoys an outstanding market position with its products and is commercially successful. In its capacity as investor, Triton brings in the perspective of further developing the business potential of HX in the best way possible.”

With the divestment of HX, GEA Group increases its food processing technology share to over 70% of group revenue. GEA said it intends to use the proceeds from the sale primarily for further reinforcing its core business by means of targeted acquisitions.

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.

Earlier this month Triton agreed to acquire of French company Alstom’s auxiliary components business which includes industrial heat exchangers.

The 25 companies currently in Triton’s portfolio have combined sales of approximately EUR 13 billion and over 55,000 employees. The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey.

Latest News

4th November 2024

Michael Toh is president of Copeland Asia-Pacific

USA: Copeland has appointed Michael Toh as president of its Asia-Pacific regional business unit. 
4th November 2024

Donovan appointed chair at Kensa

UK: Ground source heat pump company Kensa has appointed Paul Donovan as its new chair of the board.
4th November 2024

Lek appointed VP and president EMEALA

IRELAND: Johnson Controls has named Richard Lek as vice president and president, Building Solutions EMEALA (Europe, Middle East, Africa, and Latin America). 
4th November 2024

Parts Town offers WhatsApp support

UK: Foodservice parts supplier Parts Town UK has introduced a dedicated WhatsApp channel where customers can conveniently chat with the company’s UK team.
3rd November 2024

Pressure exchanger improves CO2 refrigeration efficiency

USA: A technology adapted from the desalination industry is said improve COPs of CO2 refrigeration systems by up to 30%.
3rd November 2024

Danfoss valves meet UL flammability standards

DENMARK: Danfoss has released details of its new EVR and NRV safety valves, approved to meet UL standards for the safe operation of systems using flammable refrigerants.