Fläkt Woods is a leading global provider of ventilation and air climate solutions for buildings as well as air movement solutions for industry and infrastructure applications. The Group was created in 2002 through the combination of Woods Air Movement (formerly a subsidiary of Marconi) and the Fläkt air handling equipment business (formerly a subsidiary of ABB).
“In recent years, we’ve successfully built a global provider of air handling and ventilation solutions, thanks to the talent of our employees and the confidence of our customers. Sagard’s acquisition offers us new opportunities to grow, further expand our geographic footprint, develop new technologies and consolidate our market segments.”
Didier Forget
Chief Executive Officer
Investment rational
- Solid underlying market growth, driven by an increasing need for air quality, a greater focus on energy efficiency and investments in infrastructure.
- Leading market positions in core products and in its key countries, thanks to high quality product manufacturing and long-standing relationships with key decision makers
- A high quality management team that has built a strong platform for growth in the industry.
- Significant external growth opportunities in a fragmented industry in Europe.
Description:
Fläkt Woods is present in two distinct markets:
The Air Climate business provides energy-efficient indoor products and solutions to supply people with clean, comfortable fresh air in non-residential buildings. Main products include air handling units, chilled beams, fans, diffusers, ducts and fittings that are part of a central HVAC system.
The Air Movement business provides energy-efficient axial and centrifugal fans for use in infrastructure and industrial processes (tunnels and metros, power stations, cement and steel plants) as well as light industry applications.
Key financials:
In 2010, Fläkt Woods generated revenues of €514.9 million, of which 66% in Europe, 21% in Asia and 13% in the United States.
It employs 3,125 people.
Management:
The company is run by a very strong management team led by Didier Forget. Since 2003, the team has successfully completed a post-merger restructuring plan and delivered a strong track-record of internal growth and productivity gains in all of the manufacturing facilities.
Sagard’s position:
Sagard and Barclays Private Equity have jointly controled FläkltWodds since 2007. Co-investors include the management team, as well as Barclays Private Equity and mezzanine fund ICG.