Triton has signed an agreement to acquire Voith Industrial Services
Frankfurt/Heidenheim (Germany), 9 May 2016 - Funds advised by Triton ("Triton") have signed an agreement to acquire Voith Industrial Services, a leading provider of value-add technical services for the industrial sector, from Voith GmbH (“VOITH”). Voith GmbH will continue to hold 20%. The parties have agreed not to disclose the purchase price. The transaction is subject to regulatory approval in the relevant jurisdictions.
"We want to support the management and employees of Voith Industrial Services as a stable owner in investing in and supporting the growth and development of the company. We will contribute our strategic insights from the service and automotive industry as well as operational know-how. We look forward to working together with the management team and the Board of Directors in building a stronger company", said Peder Prahl, Director of the General Partner for the Triton funds.
“This transaction is an important milestone for us, enabling VOITH to focus on technology and engineering for the digital age. With Triton we found a new majority owner, who is a respected investor and will support the company in future growth”, says Dr. Hubert Lienhard, President and Chief Executive Officer of VOITH.
“Voith Industrial Services developed under the ownership of Voith in the last decade a strong market position and is well positioned thanks to its excellent service offering”, said Markus Glaser-Gallion, Chief Executive Officer of Voith Industrial Services business. “As an investor, Triton can shape with us the next chapter of growth, and develop the company as a leading global industry focused service supplier.
About Voith*
Voith sets standards in the energy, oil & gas, paper, raw materials and transport & automotive markets. Founded in 1867, Voith today has more than 20,000 employees and earns 4.3 billion euros in sales. It has locations in over 50 countries in all regions of the world and is one of the largest family-owned companies in Europe.
*Excluding discontinued business such as Voith Industrial Services
About Voith Industrial Services
Voith Industrial Services offers a broad spectrum of technical services. The commitment and the know-how of our employees make us one of the internationally leading industrial specialists for manufacturers and suppliers all over the world.
With a workforce of about 17,200 employees at more than 200 locations at home and abroad we strive to provide perfect customer solutions. Our in-depth industrial know-how and the excellent cooperation of our specialists result in a unique portfolio that enables us to reliably support the processes of our customers.
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 27 companies currently in Triton's portfolio have combined sales of approx. € 12 billion and around 55,000 employees.
The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com
