The German group GEA, manufacturer of industrial machinery and process engineering initiated the sale of its heat exchangers last year. Advised by investment firm Triton Partners, has closed the deal for approximately 1,300 million euros.
The transaction is part of the new strategic focus of the group, which want to center the main focus of their business in the supply of packaging and processing systems for the food industry, which will rise to 70% of their income once realized the sale. The transaction is subject to regulatory approval and is expected to close at the end of this year.
The GEA group posted revenues of EUR 4,300 million last year and employs about 18,000 people worldwide.The division of heat exchangers is the second business unit of the group by revenues, and manufactures equipment for all types of industries, from air conditioning to cooling towers.
GEA is one of the leading manufacturers of plate heat exchangers, competing in the exchangers market with the Swedish company Alfa Laval s and the American SPX.
Laygo manufactures no OEM gaskets compatible with the plate heat exchangers made by GEA. GEA is one of the largest manufacturers of plate heat exchangers, covering nearly all applications with its range of PHE.