Triton buys Alstom's steam auxiliary components business for Euro 730 mn

Alstom has agreed to sell its auxiliary components business to Triton, a leading European investment firm, for an enterprise value of around Euro 730 million. This project is part of the non-core asset disposal programme, announced by Alstom last November. The transaction is expected to close before the end of first half of fiscal year 2014-15.
 
The auxiliary components business sold is part of the steam segment within Thermal Power and is active both in the new equipment market and aftermarket services across three product lines: air preheaters and gas-gas heaters for thermal power plants, heat transfer solutions for a variety of petrochemical and industrial processes, and grinding mills for diversified industrial applications.
 
Headquartered in Germany, the activities employ more than 1,500 people worldwide, with operations in Germany, the US, Japan, China, India, Brazil, Switzerland and the Czech Republic. All employees will be transferred. For the fiscal year ending 31 March, the business is expected to generate revenues in excess of Euro 430 million, with a double-digit operating margin, and strong growth prospects for the years ahead.
 
“This transaction highlights the strength and value of Alstom portfolio of activities, and illustrates the group’s ability to deliver on its strategy of selective, value-enhancing disposals,” said Nicolas Tissot, Chief Financial Officer, Alstom.
 
Triton is an investment firm, focused on investing in and developing leading Northern European companies. “Triton looks forward to working with the management team and employees to strengthen and grow the company,” said Peder Prahl, Director of the General Partner of the Triton funds.