Flakt Woods and DencoHappel merge
The merger of Flakt Wood, and DencoHappel has been completed following the acquisition of Flakt Woods by funds advised by Triton and approval by the relevant anti-trust authorities. This merger is described as creating the new European market leader for energy-efficient air-technology solutions. The combined company generated revenues of about €700 million (pro forma) in 2015 and has about 3800 employees. Triton expects the combination to be earnings accretive immediately, with further upside potential from cross-selling, manufacturing and other synergies.
Flakt Woods is a leading provider of air-technologies solutions for HVAC Systems.
DencoHappel is a leading technology innovator in air treatment, air conditioning, filter technology and cooling process air.
The combined company will operate under the name FlaktGroup.
Dr Walter Rohregger, CEO of FlaktGroup, said, ‘I believe this transaction is based on a perfect match. We are very enthusiastic about working together, as our teams share the same entrepreneurial mindset, with a dedication to customer satisfaction employing highest quality and safety standards. We believe that our customers and our employees will both benefit from the merger.’