M&A Activity • Jun 19, 2013
M&A Activity
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Corporate | 19 June 2013 09:15
INDUS strengthens subsidiary AURORA with strategic acquisition of HEAVAC
INDUS Holding AG / Key word(s): Acquisition
19.06.2013 / 09:15
INDUS strengthens subsidiary AURORA with strategic acquisition of HEAVAC B.V in the Netherlands
Bergisch Gladbach, 19 June 2013 – With effect from 1 January 2013, AURORA Konrad Schulz GmbH & Co. KG, an INDUS portfolio company from the Vehicle Engineering segment, acquired HEAVAC B.V., headquartered in Nuenen, Netherlands. HEAVAC produces ventilation and air-conditioning systems for buses, primarily for customers in the Benelux countries as well as the UK and Russia. The new Wright double-deckers in London and the Russian Golaz buses for the Winter Olympics in Sochi, for instance, will be equipped with HEAVAC systems. Due to its market-leading position, especially in the Benelux region, HEAVAC serves as a development partner for its customers. Employing 45 people, the company generated sales revenues of EUR 12 million in 2012.
AURORA employs 210 people in Germany, Turkey and the USA and produces air-conditioning and ventilation systems for buses, construction and agricultural machines. Established in 1930, the company has been a member of the INDUS Group since 1990. In 2012, AURORA generated sales revenues of approx. EUR 30 million.
So far, the two companies have served different markets and are no direct competitors. The acquisition of HEAVAC will result in a broadly-based international specialist who will be able to tap as yet undeveloped markets and customer groups thanks to additional synergies in the product portfolio and the sales organisation. HEAVAC, for instance, is developing battery cooling systems for energy-efficient heating and air-conditioning devices for use in electric vehicles. Going forward, the new entity will operate under the name of AURORA-HEAVAC-Gruppe; all locations will be maintained.
In their search for a strategic partner, the three managing partners of HEAVAC, Peter Bremmer, Gerald van Kampen and Han Rutten, had approached AURORA. ‘We are convinced of INDUS’ business model, which is geared to long-termness and sustainability – we know that the company is in good hands here,’ says Peter Bremmer, who will continue to work for HEAVAC in the same position together with his two fellow shareholders.
Contact:
Regina Wolter
Corporate Communications & Investor Relations
Phone +49 2204 4000 70
E-Mail [email protected]
End of Corporate News
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| Language: | English |
| Company: | INDUS Holding AG |
| Kölner Straße 32 | |
| 51429 Bergisch Gladbach | |
| Germany | |
| Phone: | +49 (0)2204 40 00-0 |
| Fax: | +49 (0)2204 40 00-20 |
| E-mail: | [email protected] |
| Internet: | www.indus.de |
| ISIN: | DE0006200108 |
| WKN: | 620010 |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 216931 19.06.2013 |
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