• GEA brings to completion previously announced focus on core business • Divestment creates additional financial headroom for acquisitions in core business • Triton allows for systematic further development of the Heat Exchangers division

The Düsseldorf-based mechanical engineering group GEA Group announces the sale of its Heat Exchangers (HX) Segment to funds advised by Triton. The purchase agreement was signed today. The sale is based on an enterprise value of approx. 1.3 billion euros. 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. 

„We are pleased that, with Triton, we have found a reputable owner for the Heat Exchangers Segment. 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", said Jürg Oleas, Chairman of the Executive Board of GEA Group Aktiengesellschaft. 

Within the framework of its GEA 2020 group strategy, GEA Group had previously decided to more strongly focus its portfolio to further strengthen its position as leading system provider for the food industry and other exacting process industries. 
Due to a lack of group-wide synergy potentials, GEA Group had announced its decision to completely separate from the HX Segment on June 20, 2013.

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

GEA Heat Exchangers
The website of our discontinued operation GEA Heat Exchangers can be found here.

About Triton
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 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.

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