With this transaction Seves has completed a long and complex industrial- and financial restructuring process.The operational results of the company have always been positive and grown over the last years due to a footprint optimization and other productivity measures.Now with a solid balance sheet and a stable new ownership as well as strong customer- and suppliers relationships the group will continue its successful development and grow into new markets, product segments and will also explore potential acquisition opportunities.
"The Seves Group operates in niche markets which will play an important role to address some megatrends with global growth opportunities. Triton looks forward to supporting the management team in developing the company further", said Peder Prahl, Director of the General Partner of the Triton funds. "This transaction is an important milestone for Seves, enabling us to execute our strategy to further grow and globalize our business and to focus on the development of new innovative products", added Peter Baumgartner, Chief Executive Officer of Seves Group.
The Seves Group generates revenues of more than 330 Mio€ and employs 2.600 people around the world. The group is organized in 3 independent business units coordinated through a central corporate office in Luxemburg. Sediver with its headquarters in Paris is the global leader in toughened glass electrical insulators for power Transmission & Distribution lines. With 900 employees in factories, laboratories and sales offices in China, Europe, North- and South America, Sediver is serving leading utility customers across all continents. PPC is one of leading global manufacturers of porcelain insulators for substations as well as for transmission & distribution lines. With more than 1400 employees in 7 factories in Europe Asia and South America and its headquarters in Vienna, PPC is serving leading OEMs and utility customers around the world. Seves Glass Blocks is the world largest manufacturer of glass blocks for architectural and interior design applications. In its state of the art factory in Duchcov Czech Republic 30 Mio glass blocks are manufactured per year and distributed under the brand names Vitrablok, Vetroarredo and Solaris through a sales office in Florence Italy and a global network of agents to customers around the world.
For further information: www.seves.com
The Triton funds invest in and support the positive development of medium-sized 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.
Triton seeks to 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 30 companies currently in Triton's portfolio have combined sales of around €15 billion and more than 67,500 employees. The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com