ADVISED ON SALE OF COMPANYIndustrials
Acquired 100% of Business Operations
IMAP Finland and IMAP REDBAENK adviced on acquisition of ARMATURY Group by company Vexve, whichis part of invesment company DevCo Partners.
IMAP Finland and IMAP REDBAENK is pleased to announce that Finnish investment company DevCo Partners acquired the largest Czech industrial valve manufacturer, ARMATURY Group. ARMATURY focuses primarily on the Gas Pipeline, Power and Metallurgical sectors. In 2018, ARMATURY generated revenue of €60 million and employed circa 550 staff in its modern and well developed production facility.
ARMATURY will be combined with Vexve, a Finland based district energy valve manufacturer already owned and managed by DevCo. Together, ARMATURY and Vexve will become a European leader for valve solutions, with a complete portfolio for customers in the wider energy sector and an aggregate turnover of approximately€110 million. Jussi Vanhanen, CEO of Vexve, will become the CEO of the combined entity.
The IMAP Finland and IMAP REDBAENK acted as financial advisor to DevCo and Vexve on cross-border transaction.