Triton recently announced that it plants to sell its Aventics pneumatics company to Emerson. The financial details of the deal were not disclosed.
Emerson and Triton recently came to an agreement and the transaction is in progress, starting with the regulatory approval process that is currently underway.
Aventics serves the life sciences industry by providing valve control systems, pressure controls, compact valves, actuators and complete systems and custom expertise for technologies in medical devices, diagnostic and analytical laboratory equipment.
“We would like to thank the management team, the employees and all other stakeholders for their contributions to Aventics successful development during Tritons ownership. Triton has been the owner of Aventics for more than four years and we view this as an appropriate time for a long term industrial owner to continue the development of Aventics. Emerson is an ideal partner for Aventics going forward with an ideal cultural fit. This partnership will open new opportunities for both companies” said Peder Prahl, director of the general partner to the Triton fund.
The deal is expected to be completed by the third quarter of this year. It is still subject to regulatory approvals, finalization of necessary consultations and other customary closing conditions.
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