Aurelius Equity Opportunities has sold its subsidiary SECOP to the Japanese Nidec Group for €185m.
The deal is subject to the approval of the authorities and is expected to conclude in the coming months. It is the largest company sale in Aurelius’ history.
Aurelius is a leading pan-European investment group with offices in Munich, London, Stockholm and Madrid. It invests in companies or brands with development potential across a range of sectors.
SECOP is a global provider of specialised compressors for refrigeration and freezer appliances operating in the household and light commercial sectors. SECOP’s Household division is a leading provider of compressors for refrigerators and freezers in Europe. Through its Light Commercial division, the company sells compressors for commercial applications such as frozen goods counters in supermarkets and hermetic DC compressors, such as those used in cooling units in trucks. In all areas, the company benefits from the ongoing trend towards energy efficiency and sustainable refrigerant technologies.
In 2010, Aurelius took over the Household Compressors business division from the Danfoss Group as part of a group spin-off. Aurelius turned the business around and has successfully developed SECOP into a profitable high-tech niche player focusing on energy-efficient compressors. Over the past seven years, substantial resources have been invested in the development of new compressor platforms and in optimising production processes.
With headquarters in Kyoto, Japan, the Nidec Group is a leading provider of electric motors, components and accessories. This strategic acquisition will enable it to considerably broaden of its product portfolio with sizeable synergy potential.
Nidec has already successfully grown non-organically in the past by acquiring and integrating products and technologies. The acquisition of SECOP is a logical next step for the firm to expand its product offering in a targeted and sustainable manner.