Triton sells Dematic to private equity investor AEA Investors and Ontario Teachers' Pension Plan
(firmenpresse) - (DGAP-Media / 13.11.2012 / 10:00)
Triton sells Dematic to private equity investor AEA Investors and Ontario
Teachers' Pension Plan
- Turnaround from non-core business to the independent global market
leader in intralogistics
- Significant increase in earnings and sales since acquisition by Triton
in 2006
- Major investments to secure sustainable growth
- Strengthened presence in core markets USA and China
- Significant increase in R&D expenditure and investment in customer
services
Luxembourg, 13 November 2012 - Funds advised by Triton today announced the
sale of logistics specialist Dematic, the global leader in warehouse
technology and materials handling solutions, to private equity investor AEA
Investors ('AEA') and Teachers' Private Capital ('TPC'), the private equity
arm of Canadian pension fund Ontario Teachers' Pension Plan. As part of the
transaction, around EUR 450 million of outstanding bonds will be redeemed.
Dematic has sales of approximately EUR 1 billion and serves world-wide
leading customers with around 4,500 employees across the globe. The parties
to the transaction have agreed not to disclose the purchase price.
'Today we are particularly well positioned in the growing retail and
e-commerce segments. AEA and TPC have the track record, know-how and
capital to support our growth strategy in this very attractive market,'
said Roar Isaksen, President and CEO of Dematic.
Triton acquired Dematic from Siemens in 2006. At the time the company was a
loss-making non-core business. Since then, Dematic has steadily improved
its results. 'Over the past six years, the management, board, employee
representatives and all Dematic employees have done a fantastic job to turn
the company into the highly profitable and technologically and
geographically well-positioned global market leader in intralogistics,'
said Peder Prahl, director of the General Partner of Triton Fund II. 'We
would like to thank everyone for their contribution during Triton's
ownership.'
In order to bring Dematic back to sustained profitability, the company,
with the support of Triton, had to make significant new investments and to
restructure its USA and German operations in 2007 and 2008. This did not
only allow Dematic to successfully steer through the financial crisis of
2009, but also laid the foundation for where the company stands now: the
independent profitable global market leader in the growing intralogistics
market.
As part of the turnaround, Dematic simplified its corporate structures,
shortened decision-making processes and improved accountability across the
company by implementing a systematic approach to cost and operational
efficiency. The company also significantly increased R&D expenditures and
invested in the expansion of a dedicated customer services unit. Today,
customer services are a major contributor to Dematic's overall profit.
Large investments in sales and in marketing have yielded strong results in
markets such as North America, Europe and Australia. Asia has grown from
almost nothing in 2006 into a substantial part of the business today.
Dematic's international presence and leadership has been continuously
expanded. The company made the complementary acquisition of HK systems in
2010 and has developed a new factory in Suzhou, China. 'Both investments
were milestones for boosting Dematic's competitiveness inour two core
markets USA and China and expanding our client list in the growing
e-commerce segment,' said Roar Isaksen.
The sale, which is subject to the usual regulatory approval processes, is
expected to be completed by January 2013.
About Dematic
Dematic is the global leader providing an impressive range of intelligent
logistics and materials handling solutions. With a global knowledge network
of around 4,500 highly skilled logistics professionals, Dematic is able to
provide its customers with a unique perspective in world class materials
handling solution design. Our commitment to product and solution R&D
combined with manufacturing plants in the USA, Europe, China and Australia
ensures that Dematic has the range and capability required to provide
reliable, flexible and cost effective solutions globally. Our tremendous
track record of success has led to the development and implementation of
more than 5,000 world class integrated systems for a customer base
including some of the world's biggest companies. Dematic generates a global
business volume of approximately EUR 1 billion (or for the USA: of
approximately USD 1.3 billion / $1.3b).
For further information: www.dematic.com
Media contact Dematic
Dr. Bettina Horenburg
Mobile: +352 621 368 081
E-Mail: Bettina.Horenburg(at)dematic.com
About Triton
Triton is a successful investment firm dedicated to investing in and the
positive development of medium-size 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.
Founded in 1997, Triton seeks to pro-actively 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 23 companies currently in Triton's portfolio have combined
sales of approximately EUR11.9 billion and over 46,000 employees.
The Triton funds are advised by teams of investment professionals at Triton
Advisers.
For further information: www.triton-partners.com
Media contact Triton
Contact:
UK - Brunswick
Tel.: +44(0)20 7404 5959
Nordics - Brunswick
+46(8) 410 32 180
DACH - CNC
+49 172 899 6264
max.hohenberg(at)cnc-communications.com
End of Media Release
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