GERMANY/US – IK's Minimax to merge with Viking Group IK

Both Minimax and Viking operate in the fire protection and life safety systems market. Minimax offers installation, maintenance, and engineering services in addition to offering a range of fire protection systems, including gas based and fire detection systems, whereas Viking Group's technology, production capabilities and distribution network focus on fire sprinklers and related products.

The new group will be headquartered in Bad Oldesloe, Germany, and have a combined turnover of more than EUR 1bn and a staff count of 6,000.

The transaction is a combined cash and stock deal where existing backers will remain shareholders in the new company, with IK as the largest shareholder.

The current CEO of Minimax, Klaus Hofmann, continues as CEO and Tom Groos, presently serving as chairman of Viking Group, will become chairman of the advisory board of the new company.

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• Topics
• Expansion
• DACH