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Alantra has advised NORD Holding on the acquisition of Bock Group from GEA Group Aktiengesellschaft


SECTORIndustrials

ServiceM&A

Sep 2020
Buy-side advisory

Frankfurt – Alantra, a global leader in investment banking and asset management, has advised NORD Holding on the acquisition of Frickenhausen-based Bock Group (“Bock” or “the Company”) from the publicly listed company GEA Group Aktiengesellschaft (“GEA Group”) in a carve-out transaction. The transaction is subject to the approval of the antitrust authorities. The deal was advised by Alantra’s Industrial team in Frankfurt.

NORD Holding is acquiring all shares of Bock from GEA Group, a listed industrial group (MDAX) based in Düsseldorf, as part of a carve-out. The transaction includes Bock GmbH (Germany) and its subsidiaries in the Czech Republic and India, as well as its sites in China and Australia. After the separation from GEA Group, Bock will continue to pursue its growth course with the support of NORD Holding.

Since its foundation in 1932, the Bock Group has developed into a leading manufacturer of technologically sophisticated open and semi-hermetic piston compressors for cooling and refrigeration technology. The market segments addressed are primarily cooling and refrigeration technology for mobile applications in bus, rail and transport (reefer, trucks & trailers). The areas of retail (supermarkets) and food processing as the most important stationary applications complete the Bock Group’s product range. International customers are supported at 10 sales locations worldwide. The company employs around 340 people worldwide and generates sales of around EUR 90 million.

“We are very pleased that with our investment in the Bock Group we are able to acquire a well-established company that has a strong market position and a reputation as a technology leader in the sector. We at NORD Holding look forward to accompanying Bock on its next phase of growth and actively supporting the management team with a constructive environment for development outside the structures and strategy of the GEA Group. We very much look forward to working with the management team and employees,” says Ronald Grott, Member of the Management Board at NORD Holding.

Furthermore, Jens Schmadel, Director at Alantra, added: “We are very happy to have advised NORD Holding on this complex carve-out transaction and are convinced that NORD Holding together with Bock management will successfully drive the Company’s internationalization, in particular in Asia, and continue to roll-out the new series of compressors using CO2 as a more environmentally friendly natural refrigerant.”

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