ESSVP IV

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.