Luvata to acquire ECO Group (PE-owned coil/cooler maker)

Luvata signed an agreement to acquire ECO SpA, a heat-transfer coils and coolers manufacturer with ~2,400 staff and 325 million euros in 2006 net sales, then indirectly owned by Compass Partners European Equity Fund and management. Closing subject to EU regulatory approval.

“Luvata, a global supplier of fabricated metal solutions, services, and components to the manufacturing and construction industries, has announced the signing of an agreement to acquire ECO SpA, a major manufacturer of heat-transfer coils and coolers. The ECO Group currently employs about 2,400 staff and reported net sales of 325 million euros in 2006. It is currently indirectly owned by Compass Partners European Equity Fund and by the company management.”

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