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Acquisition of GEA Heat Exchangers by Triton is finalized

After receiving the required approvals, Triton* has legally finalized its acquisition of GEA Heat Exchangers, as part of a so-called closing procedure. With this closing and with assumption of the activities of GEA Heat Exchangers, Triton takes over all companies in the former group, as well as all staff. From now, heat exchanger business will be further developed, as part of an autonomous group, under the aegis of the new investor:
Christoph Michel, CEO of GEA Heat Exchangers Group, welcomes the new situation: “In Triton, we have a trustworthy partner that will strengthen and support our future activities.” Except for a new brand name that will be rolled out mid-term, he explains, nothing will change for the customers of GEA Heat Exchangers as a result of the move from GEA Group to Triton: “All projects and orders will be executed as accustomed, and our customers’ familiar and trusted contact partners in Sales and Support will now as before stand at their side.”

Company positions will be further developed in markets such as power generation, exploration, chemistry and petrochemistry, food and beverages and other process industries, as well as water and air treatment. The portfolio will be developed on a more customer-oriented basis.
This process will include internal reorganisation of business units within the GEA Heat Exchangers Group, which will now – in a simplified structure – serve the market in three Segments. One Segment will focus on the areas of climate and environment, with activities including all products for applications of HVAC technology.
The second Segment will concentrate on solutions in the area of major power-generation projects. These efforts will include wet cooling towers, dry cooling systems, filing media for cooling towers, as well as further applications.
The third Segment consists of systems and components for further heat exchanger application areas such as those in the markets of oil and gas and petrochemistry, food and beverages, marine and transportation systems. These include plate heat exchangers, finned-tube heat exchangers, as well as shell-and-tube heat exchangers, which are used in a great number and variety of processes.

This orientation will be accompanied by establishment of a new brand. An autonomous profile for our heat exchanger activities – a profile that is independent of GEA – will prove effective in future penetration of new markets. At the same time, this corporate profile will express the values of the brand GEA that our regular customers have learned to respect, as well as the benefits of our product brands. We will continue to use the name “GEA” until introduction of the new brand.

Christoph Michel, CEO

31 Oct. 2014

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