IMAP Sweden advises Midway Holding on sale of their portfolio company Sigarth to Finnish Rettig ICC
Sigarth is a market leader in radiator suspension systems and accessories with over 50 years of industry experience. Today, Sigarth has approximately 80 employees and in 2017, their turnover was approximately 119 million Swedish krona.
Rettig ICC Ltd and Midway Holding AB have signed an agreement for Rettig ICC to purchase 100 per cent of Sigarth AB from Midway Holding AB.
Sigarth is a market leader in radiator suspension systems and accessories with over 50 years of industry experience. Today, Sigarth has approximately 80 employees and in 2017, their turnover was approximately 119 million Swedish krona.
Perttu Louhiluoto, CEO of Rettig ICC says: “Sigarth is one of the largest radiator bracket manufacturers with an impeccable track record in making brackets that are easy, fast and safe to install. This acquisition gives us the opportunity to complement our radiator offering with a well-known brand. Our plan is to continue to develop Sigarth on a stand-alone basis with its company name and trade brands remaining as is. We are happy to welcome Sigarth’s skilled employees to our organization.”
The acquisition agreement includes all of the Sigarth business, including the production facilities in Sweden and Poland as well as a German sales office. The acquired entity will be included in the Components & Systems division of Rettig ICC Ltd.
Rettig ICC Ltd is Europe’s leading supplier of heat emitters. Our comprehensive product offering includes radiators, towel warmers, underfloor heating, convectors, valves and controls. Our mission is to offer better indoor climate comfort with fewer resources, less energy and emissions. Rettig ICC Ltd is majority-owned by Rettig Group, a Finnish business that creates value for generations through active and responsible ownership.
IMAP advised the seller Midway Holding AB throughout the process.