Triton announced its intention to sell the pneumatic components and systems producer Aventics to Emerson. According to the company, there has been an agreement on terms with Emerson and the regulatory approval process is now underway.
Laatzen/Germany — Emerson, headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing solutions for customers in industrial, commercial, and residential markets.
Triton has been the owner of Aventics for more than four years. Peder Prahl, Director of the General Partner to the Triton fund, sees this as an appropriate time for a long-term industrial owner to continue the development of the company. He considers Emerson as an ideal partner for Aventics and that this partnership would open new opportunities for both companies.
The transaction is expected to close in the third quarter of 2018 subject to regulatory approvals, finalization of necessary consultations and other customary closing conditions.