AURELIUS successfully closes sale of compressor manufacturer SECOP to the Nidec-Group
- Sales price EUR 185 million
- Approx. EUR 100 million positive effect on Group profit
- Two very successful disposals so far this year, with sales proceeds totaling more than EUR 400 million
- 2017 will be the most successful year in the history of AURELIUS
Munich, August 1, 2017 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) successfully closed the sale of its subsidiary SECOP to the Nidec Group headquartered in Kyoto (Japan) on July 31, 2017. The sales price of EUR 185 million (enterprise value, “EV”) reflects a multiple of approx. 11 times the amount of capital invested. This transaction will have a positive effect of approx. EUR 100 million on AURELIUS' 2017 EBITDA for the combined group in the third quarter of 2017.
Thus, the sale of SECOP is the second-biggest exit in the history of AURELIUS. AURELIUS had just sold its subsidiary Getronics to the strategic investor Bottega InvestCo. for a sales price of EUR 220 million (EV) in early July 2017. AURELIUS achieved a positive effect on AURELIUS' 2017 EBITDA for the combined group of EUR 160 million on this transaction, which will also be booked in the third quarter of 2017. In total, AURELIUS has generated sales proceeds of more than EUR 400 million on the sales of Getronics and SECOP in the current 2017 financial year.
In view of these successful company sales and the positive operational development of its subsidiaries, AURELIUS raised its profit forecast for the 2017 financial year in early July. The AURELIUS Executive Board now expects that the EBITDA of the overall Group in the full year 2107 will rise to more than EUR 650 million.
“We are very optimistic about the second half of the year, our current portfolio is performing very well and we continue to see great interest on both the acquisitions side and the sales side,” said Dr. Dirk Markus, Chairman of the Executive Board of AURELIUS Equity Opportunities. “And the numbers continue to prove us right; in this year alone, we have distributed approx. EUR 190 million to our shareholders in the form of dividends and share buybacks. Last week, we launched another share buyback program for up to EUR 50 million, which will increase the value further.”