Luvata has announced the signing of an agreement to acquire ECO SpA, the world’s foremost manufacturer of heat-transfer coils and coolers. The ECO Group currently employs about 2,400 staff and reported net sales of ?325 million in 2006.
It is currently indirectly owned by Compass Partners European Equity Fund and by the company management. Closing of the transaction is subject to regulatory approval within the EU. The acquisition represents a strategic opportunity for Luvata to strengthen its product offering in value-added solutions.
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