09/01/2016
Selling of Voith Industrial Services completed
Heidenheim/Frankfurt (Germany). Voith has completed the selling of the Group Division Voith Industrial Services to Funds advised by the private equity investment firm Triton. The parties have agreed not to disclose the purchase price. Triton acquires a majority stake in the entire Group Division and will continue the business under a new name. Voith remains engaged with a minority stake and will accompany the transition.
Within the framework of its Group-wide success program
Voith 150+, Voith had announced in 2015 that it would focus its portfolio on its technology and engineering competency for the digital age and to look for a new owner for Voith Industrial Services
In May 2016 Voith and Triton had reached a basic agreement on the sale of the Group Division Voith Industrial Services and signed a corresponding contract which was now closed on August 31. “The selling of Voith Industrial Services is another milestone on our way making our company a shaper of digital change in the industry. We are working consequently on our digital agenda and have made a good step forward with the closing.”
On the occasion of the closing of the contract, Hubert Lienhard thanked the more than 17.000 employees of Voith Industrial Services: “On behalf of the Corporate Board of Management and the entire Voith staff, I would like to thank all Voith Industrial colleagues for their longstanding loyalty and dedication.”
Voith sets standards in the markets energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, Voith employs more than 20,000 people, generates € 4.3 billion in sales, operates in about 60 coun-tries around the world and is today one of the largest family-owned compa-nies in Europe*.
* Excluding the discontinued Group Division Voith Industrial Services.
In May 2016 Voith and Triton had reached a basic agreement on the sale of the Group Division Voith Industrial Services and signed a corresponding contract which was now closed on August 31. “The selling of Voith Industrial Services is another milestone on our way making our company a shaper of digital change in the industry. We are working consequently on our digital agenda and have made a good step forward with the closing.”
On the occasion of the closing of the contract, Hubert Lienhard thanked the more than 17.000 employees of Voith Industrial Services: “On behalf of the Corporate Board of Management and the entire Voith staff, I would like to thank all Voith Industrial colleagues for their longstanding loyalty and dedication.”
Voith sets standards in the markets energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, Voith employs more than 20,000 people, generates € 4.3 billion in sales, operates in about 60 coun-tries around the world and is today one of the largest family-owned compa-nies in Europe*.
* Excluding the discontinued Group Division Voith Industrial Services.