COLUMBIA, Mo., and ZURICH, Switzerland - SEMCO Inc. and Flakt Woods Group have announced the signing of an agreement by which SEMCO’s shareholders are selling the company to the Flakt Woods Group.
“Being a member of the Flakt Woods Group will strengthen our position in our served markets and beyond. This is a very positive step. It reinforces our commitment to provide the market with high quality products, services, and solutions that meet the needs of both our customers and the world,” said William Thurman, SEMCO president and CEO.
“Like Flakt Woods, SEMCO is a great company with a tradition of innovation, new product development, and successful business growth. We are very pleased to welcome the talents of SEMCO to join the Flakt Woods Group, and view this as a significant step for us in North America within the air climate for buildings. To date, the Group’s activities in the U.S. have been focused on fans through the American Fan Company, and the acquisition of SEMCO is a perfect illustration of the new development strategy we intend to pursue with our new owners to extend our portfolio of air climate and air movement solutions worldwide,” said Didier Forget, CEO of Flakt Woods.
Final sale of the business is expected to take place shortly after some work to prepare the transfer of ownership. The price of the transaction was not disclosed.
SEMCO is a leading manufacturer of ventilation and air treatment products. For more information, visit www.semcoinc.com.
Flakt Woods is one of the largest air handling systems and duct suppliers in Europe and has strong positions in selected countries in the Middle East, Asia, and Australia. The Flakt Woods Group was recently acquired by Sagard Private Equity Partners, Barclays Private Equity and ICG. For more information, visit www.flaktwoods.com.
Oct. 12, 2007: SEMCO Acquired by Flakt Woods Group
October 12, 2007