Bridgepoint Agrees to Buy AHT Cooling From Quadriga
Bridgepoint Advisers Ltd., a London-based private-equity firm, agreed to buy Austrian refrigerator maker AHT Cooling Systems GmbH from Quadriga Capital for 585 million euros ($770 million).
“AHT is at an attractive point in its development, given the already solid continued growth of its core product,” Marc Zügel, a director at Bridgepoint, said in an e-mailed statement today. It “will target a significantly larger international market,” he said.
AHT, which employs 1,100 people and operates production sites in Austria and China, had compound 10-year revenue growth of 10 percent and expects to have sales of more than 330 million euros in 2013, Bridgepoint said. The manufacturer traces its roots to an ironworks in Rottenmann, Austria, in 1442, according to AHT’s website.
To contact the reporter on this story: Kiel Porter in London at email@example.com
To contact the editor responsible for this story: Edward Evans at firstname.lastname@example.org