Nord Holding acquires Bock

The deal is expected to be completed in 2021.

The deal also comprises Bock's operations in the Czech Republic, India, Australia and China.

GEA announced in September 2019 that it was exploring the sale of Bock as part of its continued focus on its core markets of the food, chemicals and pharmaceuticals industries. The sale was made via a competitive auction process managed by William Blair.

Nord Holding plans to support the company's continued internationalisation and to build the business into an independent entity following the acquisition, according to a statement.

The acquisition is not leveraged and the deal is valued in the €50-100m range.

Nord Holding focuses on companies with revenues of €20-500m and EBITDA of €5-15m. The GP generally deploys equity tickets of €25-50m per platform investment.

Company
Bock produces open and semi-hermetic piston compressors for use in refrigeration and cooling technology, in both stationary and transportation settings. Its products are used in rail and transport, as well as supermarket and food processing facilities.

The company generated sales of €90m in 2019 and employs 340 people. Bock is based in Frickenhausen and was founded in 1932. The company was acquired by GEA in 2011 and became part of its refrigeration technologies division.

People
Nord Holding – Ronald Grott (member of the management board); Markus Lipp, Maximilian Frey (investment managers); Alexander Wambach (investment analyst).
GEA Group – Stefan Klebert (CEO).

Advisers
Equity – Alantra, Frank Merkel (corporate finance); Androschin & Partner, Norbert Rauh; CMS, Klaus Jäger (legal); Ebner Stolz, Armand von Alberti (financial due diligence, tax); Funk-Gruppe, Benedict Prinzenberg (insurance due diligence); ERM, Jens Wrabel (environmental due diligence); Deloitte, Hiroshi Ochi (IT due diligence).
Vendor – William Blair (corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Nord Holding