Alstom today announces the closing of the sale of its steam auxiliary components business to Triton, a leading European investment firm.
The business was sold for an Enterprise Value of around €730 million as part of the non-core asset disposal programme announced by Alstom in November 2013.
The corresponding activities, representing revenues in excess of €400 million have been fully separated and transferred from Alstom to the newly founded ARVOS Group, with Triton as new sole shareholder. This includes the transfer of its 1700 employees worldwide.
ARVOS will continue to be a major supplier to Alstom, ensuring sustainable quality of service for Alstom and its customers.
“Arvos has key assets to be a successful company in future, thus giving good prospects to all its employees” said Philippe Cochet, President of Alstom Thermal Power. “We give them our best wishes, looking forward to continued strong cooperation and a mutually beneficial relationship as we serve our respective customers worldwide.”
The auxiliary components business sold was previously part of the steam segment within Alstom's Thermal Power division. It is active both in the new equipment market and aftermarket services across three divisions: air preheaters and gas-gas heaters for thermal power generation and industrial facilities; heat transfer solutions for industrial processes; grinding mills (including thermal equipment) used in industrial applications and for power generation application for facilities with output below 100 MWe. The company will be headquartered in Heidelberg, Germany and has operations in Germany, the USA, Japan, China, India, Brazil, Switzerland and the Czech Republic.