Luvata to acquire PE-owned ECO Group (heat-transfer coils)

Luvata signed an agreement to acquire ECO SpA, a major heat-transfer coil and cooler manufacturer indirectly owned by PE fund Compass Partners European Equity Fund. The note also records that Luvata itself was formed when Nordic Capital acquired Outokumpu Copper Products in 2005.

“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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