Triton completes divestment of SEDIVER parent company SEVES Group to Blackstone

Luxembourg (Luxembourg), 31 October 2024 – Funds advised by Triton (“Triton”) have successfully completed the divestment of SEVES Group S.à r.l., the parent company of SEDIVER Group (“SEDIVER” or “the company”), a provider of specialised electrical glass insulator solutions for the high-voltage transmission grid, to Blackstone. The terms of the transaction, which marks Triton’s complete divestment from the SEVES Group, are not disclosed.  
 
A leading manufacturer of toughened glass insulators, SEDIVER supplies a mission-critical element of the electric transmission grid. The company supports the energy transition by enabling the reliable and sustainable transmission of electricity, while facilitating the global electrification megatrend. SEDIVER´s products are critical to the modernisation of the electrical grid in developed economies, while powering the new build-out of grid systems in emerging markets around the world.  
 
SEDIVER was acquired by Triton as a part of SEVES Group, which also included PPC insulators (divested 2021) and Vitrablock (divested 2018). During its ownership period, Triton accelerated SEDIVER’s growth by supporting its geographical expansion into the US market, strengthening its leadership and its governance and compliance procedures, and helping management to carry out a comprehensive improvement of the company’s manufacturing footprint. Triton also invested in value adding digital capabilities that established the company as a pioneer in “Smart Grid” technology. 
 
With the divestment of SEVES Group. Triton has made six realisations - returning an aggregate of €2.5bn - across its private equity funds in 2024. The other announced realisations are Ambea, Blitz LuxCo Sarl (the holding company of Bormioli Pharma), EQOS, RENK and Norstat.