The owner of Fläkt Woods, private equity company Compass Partners, has sold the company to Sagard, another private equity firm.
The Fläkt Woods Group, the global supplier of solutions for ventilation and air treatment for buildings, employs more than 3,000 staff in Europe, Asia and the US. It reports net sales of around €550m.
Didier Forget, CEO of the Group, declared: 'Fläkt Woods has had impressive success in recent years, under the ownership of Compass Partners European Equity Fund. The group has become a global manufacturer of air solutions, thanks to the talents of our employees and the confidence of our customers. Joining Sagard offers impressive opportunities for further growth, global coverage and technological developments to the benefit of our customers.'
The headquarters of Fläkt Woods will remain in Switzerland.
Sagard is a European private equity firm based in Paris and was recently created with the support of Power Corporation of Canada. It operates in France, Belgium and Switzerland.
Sagard invests in midsize companies in a position to increase leadership on their respective markets. Sagard operates alongside experienced management teams to help them achieve medium to long-term development plans. Since January 2004, Sagard invested in 15 companies, active in industry and services.
'Fläkt Woods is a unique platform to continue creating value with untapped organic growth and multiple acquisition opportunities in an attractive sector,' said Antoine Ernoult Dairaine of Sagard.