Fouriertransform backs TitanX

The transaction is subject to approval by the German and Austrian competition authorities, and is expected to be completed by the end of March 2013. TitanX was acquired by EQT in 2008.

After the investment, Fouriertransform will own approximately 38% of TitanX, while EQT will remain a majority owner. EQT will appoint five board members and Fouriertransform will appoint two board members following the deal.

The fresh capital will be used to further strengthen the development of TitanX and secure future growth in key markets. The capital injection will be part of pre-IPO preparations, as a listing of the business is planned for the coming years.

Company
TitanX is a Sweden-based supplier of cooling solutions to the heavy trucks market. TitanX works with most of the major manufacturers of heavy duty trucks, such as Daimler, Scania and Volvo. It is currently supplying them on an original equipment manufacturer (OEM) basis from factories in Sweden and in the US.

New production facilities have recently been opened in Brazil, with plants to be opened in Mexico and China in the near future.

During EQT's ownership, TitanX notably won an order with Daimler Trucks North America to supply cooling solutions in the US.

People
Samir Kamal is a partner at EQT in Sweden. Per Nordberg is the CEO of Fouriertransform. Stefan Nordström is the CEO of TitanX.

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