Triton and management acquire RMG Gas-, Regel- und Messtechnik Group from IWKA
The sale is effective as of January 1, 2005, pending approval by the relevant antitrust authorities
11 January 2005
As part of its concentration on core business areas, the IWKA Group has sold the RMG Group, which is comprised of the following companies: RMG Regel +Meßtechnik GmbH, Kassel, Karl Wieser GmbH, Ebersberg, WÄGA Wärme-Gastechnik GmbH, Kassel, RMG-GASELAN Regel + Meßtechnik GmbH, Fürstenwalde, RMG Meßtechnik GmbH, Butzbach, Zaklad Urzadzen Gazowniczych GAZOMET Sp. z o.o., Rawicz (Poland), Bryan Donkin RMG GasControls Ltd., Chesterfield (Great Britain), and Bryan Donkin RMG Canada Ltd., Woodstock (Canada), together with associated non-consolidated service and sales companies.
The companies were acquired by Triton, a European private equity house with offices in Frankfurt, London and Stockholm. Triton manages funds valued at EUR 650 million and its investment focus is primarily on companies located in German and Nordic speaking regions. Its strategy is to support the management teams of the purchased companies in further developing their market-leading businesses by providing necessary investment capital. The RMG Group conducts business in the natural gas distribution industry, specializing in regulating and safety systems, as well as shutoff and metering technology together with the associated installation services. Thanks to its profitable position, the company was able to expand its business throughincreased international activities and achieved sales of approximately EUR 100 million in 2004. The Group has over 900 employees.
The parties have agreed not to disclose the conditions of the sale. The transaction process was supported by M & A consultants Drueker & Co., Frankfurt/Main.