AURELIUS subsidiary SECOP to take over compressor manufacturer ACC Austria

25.04.2013

AURELIUS subsidiary SECOP to take over compressor manufacturer ACC Austria

  • Important strategic step for SECOP and ACC
  • Industrial concept secures the production site and approx. 700 jobs at ACC
  • Preventing company liquidation

Munich, Germany (April 25, 2013) – SECOP GmbH, Flensburg, Germany, a subsidiary of the Munich-based industrial holding AURELIUS Group (ISIN: DE000A0Jk2A8) has signed an agreement to acquire the compressor manufacturer ACC Austria GmbH, Fürstenfeld, Austria. ACC is a leading manufacturer of hermetic compressors for refrigerators and freezers with approx. 700 employees and generated revenue of roughly 150 million euros in 2012. The company is a key supplier for international cooling unit manufacturers and represents an excellent addition to the SECOP product portfolio. The transaction is subject to approval by the respective competition authorities.

Due to the insolvency of the Italian mother company and its German daughter company, ACC Fürstenfeld was forced to file for insolvency at the end of 2012 as well. The takeover by Secop now provides a strategic sustainable solution securing jobs and the production site at Fürstenfeld in Austria. ACC is well-known for its high quality products which are state-of the-art within their market. Together with Secop, ACC will further expand its research and development activities and be technology leader with both fixed and variable speed compressors for the household appliance market in the future. This will ensure the supply of compressors which will fulfill the highest requirements for energy efficiency and low noise level.

„The acquisition of ACC Austria is an important strategic step for SECOP”, says Donatus Albrecht, AURELIUS Chief Investment Officer. “In the future we would like to develop our portfolio companies even further and more actively through add-on-acquisitions. This has already been a successful strategy for some of our subsidiaries in the past.”

Mogens Søholm, SECOP President & CEO explains: “By combining the competences of both companies we have established an important independent European based compressor manufacturer which is able to drive continuous product innovations to the market.”

 

About SECOP

Secop (formerly Danfoss Household Compressors) is a leading manufacturer for hermetic compressors for refrigerators and freezers, light commercial applications and 12-24-48 DC compressors for mobile applications.

Secop’s headquarters with its R&D and Sales department and support functions is situated in Flensburg, Germany. Its production facilities are located in China and Slovakia as well as a component manufacturing site in Slovenia.

For more information, please visit: www.secop.com

For any press related questions find the following contact details below

Mogens Søholm, President & CEO, Secop

Phone: +49 461 4941 500