NORD Holding completes acquisition of compressor manufacturer Bock
NORD Holding has completed the acquisition of GEA’s global Bock Business (“Bock Group”) from GEA Group AG. The closing took place on 26. February 2021. The parties have agreed not to disclose the financial details of the transaction.
The Bock Group is a leading manufacturer of open and semi-hermetic piston compressors for stationary and transport-related cooling applications in the lower and medium refrigeration capacity range. Headquartered in Frickenhausen, Germany, the company employs some 340 people worldwide and generated sales of almost EUR 90 million in the 2019 fiscal year.
With a 50-year history and assets under management of € 2.5 billion, NORD Holding is one of the leading private equity asset management companies in Germany. The focus is on the direct investment and fund of funds investment divisions.
The focus of direct business is on structuring and financing corporate succession models, the takeover of group divisions/subsidiaries, and expansion financing for medium-sized companies.
In contrast to most other financial investors who only manage funds for a limited period, NORD Holding acts as a so-called "evergreen fund" with no time limit and invests from its balance sheet.