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Nidec signed a definitive agreement with Secop Austria to acquire the Delta household refrigeration compressor production line in Fürstenfeld, taking over about 40 employees. Closing is expected by June 1, 2020.
Private equity fund ESSVP IV, advised by Orlando Management AG, has acquired the refrigerator compressor business of Nidec Corporation, operating under the Secop brand, which has over 1,800 employees and plants in Slovakia, Austria and China.
Nidec Corporation signed an agreement to sell its Secop compressor business to ESSVP IV, a private equity fund advised by Orlando Management AG. Closing is expected in about three months.
Nidec agreed to sell its entire Secop refrigeration compressor business to ESSVP IV and Silenos GmbH, subject to approvals in Germany, Austria, Spain and by the European Commission.
Nidec Corporation completed the acquisition of 100% of Secop Holding GmbH and other Secop entities, German compressor manufacturer, from Aurelius on July 31, 2017. The companies are being renamed Nidec Global Appliance entities.
Japanese motor maker Nidec plans to fully acquire the Secop group, a German refrigerator components maker, in a deal valued at $227 million. The move aims to capture demand from tightening environmental regulations.
Walton's newly built compressor factory in Gazipur received an export order from German compressor maker Secop GmbH for 400,000 casting parts. Shipments were to be completed within the month.
