AURELIUS daughter SECOP to take over compressor manufacturer ACC Austria
- Important strategic step for SECOP and ACC
- Industrial concept secures the production site and approx. 700 jobs at ACC
- Preventing company liquidation
Flensburg (Germany), Munich (Germany), April 25, 2013 – SECOP GmbH, Flensburg, Germany, a daughter of the Munich-based industrial holding AURELIUS Group (ISIN: DE000A0Jk2A8) has signed an agreement to acquire the compressor manufacturer ACC Austria GmbH, Fürstenfeld, Austria. ACC is a leading manufacturer of hermetic compressors for refrigerators and freezers with approx. 700 employees and generated revenue of roughly 150 mio. EURO in 2012. The company is a key supplier for international OEM’s and represents an excellent addition to the SECOP product portfolio. The transaction is subject to approval by the respective competition authorities.
Due to the insolvency of the Italian mother company and its German daughter company, ACC Fürstenfeld was forced to file for insolvency at the end of 2012 as well. The takeover by Secop now provides a strategic sustainable solution securing jobs and the production site at Fürstenfeld in Austria. ACC is well-known for its high quality products which are state-of the-art within their market. Together with Secop, ACC will further expand its research and development activities and be technology leader with both fixed and variable speed compressors for the household appliance market in the future. This will ensure the supply of compressors which will fulfill the highest requirements for energy efficiency and low noise level.
„The acquisition of ACC Austria is an important strategic step for our daughter company SECOP”, says Donatus Albrecht, AURELIUS Chief Investment Officer. “In the future we would like to develop our portfolio companies even further and more actively through add-on-acquisitions. This has already been a successful strategy for some of our daughter companies in the past.”
Mogens Søholm, SECOP President & CEO explains: “By combining the competences of both companies we have established an important independent European based compressor manufacturer which is able to drive continuous product innovations to the market.”
Secop (formerly Danfoss Household Compressors) is a leading manufacturer for hermetic compressors for refrigerators and freezers, light commercial applications and 12-24-48 DC compressors for mobile applications.
Secop’s headquarters with its R&D and Sales department and support functions is situated in Flensburg, Germany. Its production facilities are located in China and Slovakia as well as a component manufacturing site in Slovenia.
For more information, please visit: www.secop.com
For any press related questions find the following contact details below:
Mogens Søholm, President & CEO, Secop
Phone: +49 461 4941 50
The AURELIUS Group specializes in acquiring companies with development potential and providing them with operational support. With respect to the acquisition of subsidiaries, AURELIUS strives to identify, analyze, develop and exploit all available opportunities in the market. The AURELIUS Group understands itself to be a GOOD HOME for its subsidiaries on a long-term basis. Although its acquisition activities are not limited to a certain sector, AURELIUS has placed a certain emphasis on the following sectors: industrial enterprises, chemicals, business services, consumer goods/food & beverage and telecommunications, media & technology.
AURELIUS has many years of investment and management experience in different industries and sectors. AURELIUS improves the performance of its subsidiaries by providing management capacities and the necessary financial resources for investing in innovative products, sales and research. AURELIUS is a globally active company with offices in Munich and London and subsidiaries in Germany, Great Britain, France, Poland, Hungary, the Netherlands, Switzerland, Norway, Belgium, Luxembourg, Slovakia and Slovenia, as well as the United States, China, Malaysia, India, Thailand and South Korea. The shares of AURELIUS AG are traded in the m:access of the Munich Stock Exchange under ISIN DE000A0JK2A8. Additional information can be found at www.aureliusinvest.de.
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