The transaction, for EUR1.5 billion (equivalent to an enterprise value of EUR1.8 billion) is subject to customary regulatory approvals and closing conditions and is expected to close within 2025.

FläktGroup was formed in October 2016 through the merger of DencoHappel, previously part of the Galapagos group, a Triton Fund IV investment, with the newly acquired FläktWoods. Under Triton's ownership, the company has been transformed into a European market leader in air technology, delivering best-in-class, innovative and energy-efficient solutions to ensure comfort, safety and performance for its customers, whilst reducing their carbon footprint.

Over recent years, FläktGroup has broadened its offering of innovative products that are seamlessly integrated with control units, software, and lifecycle services. At the same time, the company has expanded into critical-application markets such as data centers, gigafactories as well as pharmaceutical facilities, and made strides in driving operational excellence.

Michael Gahleitner, Managing Partner and Co-Head of Industrial Tech at Triton comments: 'We extend our sincere thanks to the entire FläktGroup organization for its outstanding achievements. Working with CEO Trevor Young and the whole management team has been both a pleasure and a privilege; together they have positioned the Company at the forefront of its industry and unlocked compelling avenues for future growth. We are confident that Samsung is best positioned to lead FläktGroup forward in its next chapter.'

Trevor Young, CEO FläktGroup adds: 'In partnership with Triton, we have implemented the right strategy to create new growth opportunities, establishing FläktGroup not only as a technology leader but also as an employer of choice in the HVAC sector. We would like to thank the Triton team for their valuable support and cooperation throughout their investment. We look forward to partnering with Samsung to extend FläktGroup's leadership and deliver even greater value to our customers.'

TM Roh, Acting Head of the Device eXperience (DX) Division at Samsung Electronics said: 'Through the acquisition of FläktGroup, a central HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers. Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.'

The sale of FläktGroup marks another successful exit in a slow market where Triton bucked the trend and announced seven private equity realisations in the last 12 months, including RENK, representing an aggregate value of nearly EUR 6 billion.