Suitors line up for Austrian commercial cooling systems manufacturer AHT Cooling
24 July 2013
Several suitors have shown interest in bidding for Austrian commercial cooling systems manufacturer AHT Cooling, which has been put on the block by its owner private equity firm Quadriga Capital.
According to a Reuters report yesterday, private equity firms like TPG Capital, EQT Partners, Bridgepoint Capital and IK Investment Partners are in the race to buy the Austrian refrigerator maker, which is reportedly valued at around €500 million ($660 million).
Quadriga had once again acquired AHT in 2006 after selling its majority stake in 2005 to financial investor Equita.
AHT Cooling is one of the largest maker of commercial refrigeration products for the ice cream, frozen food, soft drinks and beverages industry.
AHT products include chilled displays, frozen displays, remote chilled and frozen displays, stainless steel catering, chilled & frozen storage, cold rooms, ice makers, medical cabinets and branded goods displays.
The company claims that more than 200.000 units leave its headquarters in Rottenmann every year.
Apart from having another factory in China, AHT also has operations in the UK, Turkey, Spain; Hong Kong, Brazil, Mexico, the US and India.
The company employs 1100 people, and 2012 sales of €292 million.