BOCHUM, Germany — Triton announced that it has finalized its acquisition of GEA Heat Exchangers. With this closing, Triton takes over all companies in the former GEA Heat Exchangers Group.
Christoph Michel, CEO of GEA Heat Exchangers Group, said, “In Triton, we have a trustworthy partner that will strengthen and support our future activities.” Except for a new brand name that will be rolled out shortly, he said, nothing will change for the customers of GEA Heat Exchangers as a result of the move to Triton. “All projects and orders will be executed as accustomed, and our customers’ familiar and trusted contact partners in sales and support will now as before stand at their side.”
Triton said that company positions will be further developed in markets such as power generation, exploration, chemical and petrochemical, food and beverage, and other process industries, as well as water and air treatment. This will include a reorganization of business units within the group, which will now serve the market in three segments. One segment will focus on the areas of climate and environment, with activities including all products for applications of HVAC technology. The second segment will concentrate on solutions in the area of major power generation projects. These efforts will include wet cooling towers, dry cooling systems, filing media for cooling towers, as well as other applications. The third segment consists of systems and components for further heat exchanger application areas such as those in the markets of oil and gas, petrochemical, food and beverage, marine and transportation systems. These include plate heat exchangers, finned-tube heat exchangers, as well as shell-and-tube heat exchangers, which are used in a number and variety of processes.
The Triton funds invest in and support the development of medium-sized businesses headquartered in Northern Europe. The 29 companies currently in Triton's portfolio have combined sales around €13.5 billion and more than 60,000 employees.
For more information, visit www.triton-partners.com.
Publication date: 11/17/2014