On July 17, 2019, Air Water Inc. and Egeria have reached an agreement concerning the sale of 100% of the issued shares of Hitec Holding B.V. to Air Water Inc. (hereafter referred to as “Air Water”).
Purpose of the acquisition of shares
By acquiring Hitec, Air Water is now in a position to develop a stronger global critical power business and a more competitive total-solution offering through alignment with, and leverage of, their existing critical power solutions business based in Asia. This acquisition will enable cost reduction of operations, the acceleration of innovation of new products and the strengthening of the global presence of Hitec. As a result, Air Water aims to become the “Global No.1” in High Power UPS systems and other critical power related equipment. AWI already provides industrial gas solutions and critical safety solutions to customers in the datacenter, semiconductor, industrial manufacturing and critical infrastructure segments, thus creating natural synergies for their existing customers.
About Air Water
Air Water is a globally operating manufacturing conglomerate, based in Japan and listed at the Tokyo Stock Exchange. Air Water operates in a large variety of sectors, such as industrial gas, chemicals, medical, energy, agriculture and food products, logistics, sea water and aerosol. It is headquartered in Osaka, employs 15,757 employees and reported a revenue of ¥802 billion in 2018 (ca. €6.6 billion). For more information, please visit:www.awi.co.jp/english/
Hitec develops, manufactures and delivers full-service turnkey Dynamic UPS solutions to ensure uninterruptible, continuous and conditioned power supply to mission critical processes. End-markets of Hitec comprise datacenters, semiconductor producers, hospitals, airports and financial institutions. The company has a global presence with a strong market position in Asia. Hitec is headquartered in Almelo, Netherlands and operates offices in the US, UK, Spain, China, Singapore, Malaysia, Taiwan and Russia. Hitec employs c. 270 people. For more information, please visit: www.hitec-ups.com
Egeria is an independent Dutch investment company founded in 1997, which focuses on medium-sized companies. Egeria invests in healthy companies with an enterprise value between €50 million and €350 million. Egeria Funds has investments in 9 companies: IQI, Dutch Bakery, Clondalkin, Dynniq, Ilionx, Trust, GoodLife Foods, TEG and Nooteboom. Besides private equity, Egeria has a long-hold portfolio Egeria Evergreen with six companies, Egeria Real Estate Investments, and Egeria Real Estate Development. Egeria’s portfolio companies have a combined turnover of over €2.3 billion and employ close to 10,000 people. For more information, please visit: www.egeria.nlNews items