Aurelius SE & Co. KGaA

M&A Activity • Jul 12, 2010

News Details

Corporate | 12 July 2010 10:46

AURELIUS to take over Danfoss Household Compressors

AURELIUS AG / Acquisition

12.07.2010 10:46

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Joint Press Release Danfoss A/S and AURELIUS AG

AURELIUS to take over Danfoss Household Compressors

Nordborg (Denmark), Munich (Germany), July 12, 2010 - Munich-based
industrial holding AURELIUS AG (ISIN: DE000A0JK2A8) has signed an agreement
to acquire Danfoss Household Compressors from the Danfoss Group, Denmark.
The Danfoss Household Compressors business with its approx. 3,000 employees
is a leading manufacturer for hermetic compressors for refrigerators and
freezers, light commercial applications and 12-24-48 DC compressors for
mobile applications and generates annual revenues of roughly 400 million
Euros.

The acquisition, which is subject to approval by various competition
authorities, comprises all Danfoss Household Compressors business
activities in Germany, China, Slovenia and Slovakia. Closing is expected
within the next two to four months.

'With more than 50 years' experience in compressor technology and highly
committed employees, Danfoss Household Compressors is a business with
significant development potential. AURELIUS plans to further grow the
business, by investing into extensive product development with high energy
performance as one of the important key elements. New high energy efficient
compressors will be introduced to the market soon. Together with next
years' heavy investments in a new innovative compressor solution, it is
clear that this business settles as a long term supplier of compressors.'
said Dr. Dirk Markus, CEO of AURELIUS. 'We are happy to see that after the
purchase of Schabmüller GmbH from Sauer Danfoss back in 2007, the Danfoss
Group has again decided to sell a subsidiary to AURELIUS.'

The Household Compressors business will remain an important supplier to the
Danfoss Group, as Danfoss and its sales companies have been appointed as
distributor and as such will continue their existing sales activities
within light commercial compressors for the market segments and regions.

Mogens Søholm, Managing Director, Danfoss Household Compressors commented:
'We are convinced that we have found a new owner who will support us in
completing our reorganisation activities and further develop and grow the
business.'

Nis Storgaard, Chief Development Officer of Danfoss says: 'As Danfoss has
chosen to prioritize other areas within climate and energy, we are happy
that AURELIUS will provide good and responsible ownership and support
Household Compressors towards a long term strategy as a leading player in
their business area.'

About Aurelius AG
AURELIUS AG is an industrial holding with a long-term investment horizon
focusing on the acquisition of companies with potential for development.
AURELIUS has some longstanding investment and management experience in
various industries. By applying management capacities and the necessary
funding for investments in innovative products, distribution and research
AURELIUS constantly advances its portfolio companies. With offices in
Munich and London as well as portfolio companies in Germany, England,
France, Ireland, Poland, the Netherlands and Switzerland, AURELIUS operates
throughout Europe. The shares of AURELIUS AG are traded on the open market
of the Frankfurt stock exchange (ISIN: DE000A0JK2A8). For more information,
please visit: www.aureliusinvest.com

For any press related questions find the following contact details below

Mrs. Anke Banaschewski, AURELIUS AG
Phone: + 49 89 544799-0
Fax: + 49 89 544799-55
E-Mail: Investor@aureliusinvest.de

About Danfoss Household Compressors
Danfoss Household Compressors is one of the leading compressor
manufacturers known for technological conquest, energy saving and low noise
level.
Our application engineering department, traceable test facilities,
laboratories, R&D department and all-round understanding of cooling are
second-to-none. We place a high priority on service and technical support
and, with production plants in Europe and China and sales and service
companies worldwide, we are always on hand and ready to respond
immediately. More than 50 years' experience of compressor technology have
taught us the requirements of our customers - and their customers. For more
information, please visit:
www.danfoss.com/BusinessAreas/RefrigerationAndAirConditioning/DanfossCompr
essors

For any press related questions find the following contact details below

Mogens Søholm, Managing Director, Danfoss Household Compressors
Phone: +49 461 4941 500

About The Danfoss Group
Danfoss is Denmark's largest industrial Group with an annual turnover
exceeding 3.4 billion Euros and about 26,000 employees globally. Danfoss is
a global Group and has more than 100 companies around the world. We are
among world leaders within research, development and production of energy
efficient technologies for many different sectors. Our position was created
by pioneers and developed by visionary and committed employees. For more
information, please visit: www.danfoss.com

For any press related questions find the following contact details below

Nis Storgaard, Executive Vice President, Chief Development Officer
Phone: +45 4017 7445

Ole Daugbjerg, Chief Reputation Officer
Phone: +45 2424 8815

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