Fläkt Woods has sold its Global Infrastructure and Industry Business

Fläkt Woods, held by Equistone Partners Europe, Sagard and its management team, announced today that it has completed the sale of its GIobal Infrastructure and Industry (“GII”) business to Howden, a subsidiary of the US listed company Colfax.

GII currently accounts for nearly 30% of Fläkt Woods’ consolidated revenue and has been sold for an enterprise value of €193m.
We are pleased to have concluded this transaction, which provides a great future for GII. We would like to thank the employees and managers of GII with a special mention to Loic Espiet, as they all have contributed significantly to the success of the Fläkt Woods Group since its formation in 2002. The transaction includes all the activities of GII concerning the following markets: Energy, Cement, Steel, Industrial processes and, only in North America, Tunnel & Metros (T&M). The transaction does not include the T&M business outside the United States of America and Canada, which remains within Fläkt Woods.

From now on, Fläkt Woods with a turnover of €450m across 35 countries and 2,500 talented employees, will focus its development on buildings and niche markets (like Marine, Oil & Gas, Tunnels & Metros, HVAC industry) as a leader for Air Comfort and Fire Safety solutions.

The extensive Fläkt Woods products and systems offering is characterized by the e3 concept (environment, economy, expertise) and are sold with our leading brands of Fläkt Woods, Fläkt, Iloxair, Woods, Semco in the US, Caryaire in India as well trademarks including Veloduct, Econovent, Activent.

The Company now includes:

  • a network of fully owned Sales units in 20 countries as well as partners, generating 75% of the sales in Europe, and 25% in Asia and United States of America.
  • design, manufacturing and logistic capabilities with 15 Operations located in Nordic europe, UK, Poland, Korea, India and United States of America.

We are confident in Fläkt Woods’ long term development and we rely on the management team led by Didier Forget President and CEO, to further increase relationships and business with customers all around the world, thus creating value for all shareholders.

About Fläkt Woods

Since September 2007, Sagard and Equistone Partners Europe have been Fläkt Woods’ two main shareholders, in close partnership with its management team.
After being hit by the global recession in 2009, the group has seen a sharp rebound in demand over the past three years in all of its markets (in Europe, the United States and Asia) and in all its businesses (air climate and ventilation solutions for industry and non-residential buildings).
Reorganised into three separate divisions since 2010, Fläkt Woods is currently the European leader in the production of air ventilation and comfort solutions, which account for two-thirds of its turnover. The Global Infrastructure and Industry division, acquired by Howden, accounts for a third of its consolidated revenue and is a global leader in the production of industrial ventilation systems. It offers hardly any overlap with the rest of the Group.

Main contacts Europe & Middle east for FlaktWoods Buildings

Sweden: Jonas Berg, jonas.berg@flaktwoods.com
Norway: Ketil Eriksen, ketil.eriksen@flaktwoods.com
Denmark: Petteri Koskinen, petteri.koskinen@flaktwoods.com
Finland: Jorma Grönholm, jorma.gronholm@flaktwoods.com
Baltics: Druvis Norvelis, druvis.norvelis@flaktwoods.com
The UK: Allan Hurdle, allan.hurdle@flaktwoods.com
Ireland: Robert Kenny, robert.kenny@flaktwoods.com
Poland: Piotr Dalek, piotr.dalek@flaktwoods.com
Eastern Europe: Piotr Dalek, piotr.dalek@flaktwoods.com
Russia: Vladimiras Michailovas, vladimiras.michailovas@flaktwoods.com
Germany: Wolfgang Mayer, wolfgang.mayer@flaktwoods.com
Benelux: Ruud Meijer, ruud.meijer@flaktwoods.com
France: Sebastien Telle, sebastien.telle@flaktwoods.com
Italy: Roberto Zattoni, roberto.zattoni@flaktwoods.com
Middle East: Saibal Majumbar, saibal.majumbar@flaktwoods.com

Main contacts Americas and Asia for FlaktWoods Buildings

Korea: K.B. Han, kyung-boong.han@flaktwoods.com
India: Santanu Kar, santanu.kar@flaktwoods.com
Singapore: Kwang Chin Chong, kwangchin.chong@flaktwoods.com
The US and Canada: Trevor Young, trevor.young@flaktwoods.com

About Equistone Partners Europe 

  • Equistone Partners Europe Limited is an independent investment firm owned and managed by the former executives of Barclays Private Equity.
  • The company is one of Europe’s most widely recognised private-equity investors in mid-market buyouts, thanks to its outstanding track record spanning over 30 years, with more than 350 transactions completed over the period.
  • It has a strong focus on change of ownership deals and invests between €25 million and €125 million of equity in businesses with enterprise values of between €50 million and €300 million.
  • Its team of 33 investment professionals operates across France, Germany, Switzerland and the UK, investing as a strategic partner alongside management teams.
  • The French investment team is based in Paris and comprises 10 seasoned professionals. Since its creation in 1991, the French team has invested in nearly 100 transactions.
  • Contact : Kablé Communication Finance Angèle Pellicier: 01 44 50 54 73 angele.pellicier@kable-cf.com

About Sagard 

Sagard is a French investment fund that provides equity capital to support the development of mid-sized companies led by ambitious management teams. Created in 2003 by the Desmarais family (Power Corporation of Canada), its investors include leading industrial families, with €1.5 billion in total assets under management. Since 2004, Sagard and its Paris-based team of 10 professionals have invested in 20 manufacturing and service companies in France, Belgium and Switzerland, primarily by acquiring majority stakes.
Contact: Publicis Consultants (Jérôme Goaër: 01 44 82 46 24 – jerome.goaer@consultants.publicis.fr)

Advisors

Fläkt Woods and their shareholders were advised by:

  • Goldman Sachs
  • Weil Gotschal Manges
  • Messier Maris
  • PwC
  • Chassany Watrelot
  • Go to www.howden.com