Project News
IFCO and Kelvion honored as best managed company
Triton portfolio companies IFCO, a globally leading provider of reusable packaging solutions driving the circular economy in the fresh grocery supply chain, and Kelvion, a leading global developer and manufacturer of heat exchange solutions, have been honoured with Germany’ s Best Managed Company Award 2025. The Award is presented by Deloitte Private, UBS, Frankfurter Allgemeine Zeitung, and the Federation of German Industries( BDI) and recognizes outstanding privately owned companies for excellence in strategy, innovation, governance, and financial performance. Triton invested in IFCO alongside ADIA in
2019. The company was founded in 1992 and today operates a fully circular business model, providing smart, reusable, and costefficient packaging solutions for retailers and producers across the world. Since Triton invested, IFCO has shown double-digit growth and doubled the company’ s EBITDA, especially through driving the RPC penetration with existing customers and winning new retailers across relevant markets including the US. Triton acquired Kelvion in 2014 as a unit of GEA Heat Exchangers and rebranded the business to Kelvion. Since Triton’ s investment, the company made significant strides in driving operational
excellence and built up a strong second leg away from Oil & Gas to offering innovative solutions for green and high-tech applications. Today, Kelvion stands out as a key enabler of progress in future-focused industries.
KSB invests in manufacturer of large heat pumps Modine to acquire L. B. White
The Frankenthal-based pump and valve manufacturer KSB has invested several million euros in the Austrian developer of industrial heat pumps ecop. By acquiring an interest of almost 20 percent, KSB is expanding its energy business and securing access to the rapidly growing market for large heat pumps for thermal outputs of between 500 kilowatts and 10 megawatts. ecop was founded in Vienna in 2011. The specialist company has developed a highly efficient, single-stage rotation heat pump |
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that can achieve a very high temperature lift. Thanks to the use of a gaseous mixture as the working fluid and rotation technology, the heat pump can be used efficiently in a very wide and flexible temperature range. This enables existing heat sources to be utilised particularly effectively. The process can be used in industries that require heat, such as the paper and textile industries, food manufacturers, and local and district heating operators, and can replace heat generation based on fossil fuels. |
Modine( MOD), a diversified global leader in thermal management technology and solutions, announced that it had entered into a definitive agreement to acquire L. B. White, a global provider of specialty heating solutions for the agriculture, construction and special event industries.“ Acquiring L. B. White is another example of executing on our strategy to expand and further diversify our portfolio with complementary technology that will enable us to achieve our |
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long-term growth objectives,” said Neil D. Brinker, Modine President and CEO.“ The L. B. White team brings highly engineered solutions and expertise for end markets that have unique climate requirements. Both L. B. White and our recent acquisition of AbsolutAire align with our vision to solve mission-critical thermal management challenges for our customers and will help us expand into adjacent markets with strong, long-term growth profiles.” |
Chart Industries and FLS sign agreement
Chart Industries, Inc.( GTLS) and Flowserve Corporation( FLS) have entered into a definitive agreement to combine in an all-stock merger of equals, creating a differentiated leader in industrial process technologies. The combined company is expected to have an enterprise value of approximately USD 19bn based on the exchange ratio and the closing share prices for Chart and Flowserve as of June 3, 2025. Additional information can be found at ChartFlowserve. com, a new joint website dedicated to the merger. With an installed base of more than 5.5 million assets in more than 50 countries, the combined company will address the full customer lifecycle from process design through aftermarket support. The combined company generated net revenue of approximately USD 8.8bn on a combined LTM basis as of the end of Q1 2025, drawn from diverse, high-growth, attractive end markets, including approximately USD 3.7bn in aftermarket services revenue, representing approximately 42 % of combined revenue. Under the agreement, which has been unanimously approved by the board of directors of each company, at the closing of the transaction Chart shareholders will receive 3.165 shares of Flowserve common stock for each share of Chart common stock owned. Following the close of the transaction, Chart shareholders will own approximately
53.5 % and Flowserve shareholders will own approximately 46.5 % of the combined company, on a fully diluted basis. www. heat-exchanger-world. com Heat Exchanger World July 2025
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