IMAP Finland is pleased to announce that Finnish investment company DevCo Partners acquired the largest Czech industrial valve manufacturer, ARMATURY Group. ARMATURY focuses primarily on the Gas Pipeline, Power and Metallurgical sectors. In 2018, ARMATURY generated revenue of €60 million and employed circa 550 staff in its modern and well developed production facility.
ARMATURY will be combined with Vexve, a Finland based district energy valve manufacturer already owned and managed by DevCo. Together, ARMATURY and Vexve will become a European leader for valve solutions, with a complete portfolio for customers in the wider energy sector and an aggregate turnover of approximately€110 million. Jussi Vanhanen, CEO of Vexve, will become the CEO of the combined entity.
The IMAP Finland team acted as financial advisor to DevCo and Vexve, with cross-border support in the introductory phase from members of the IMAP Czech Republic team.
In 2019, IMAP closed 234 M&A deals valued at over $13 billion. The result was higher than the previous year (208) and indeed, marked IMAP’s strongest performance since 2012. Average disclosed IMAP deal value stood at $66.9 million.
NEI Limited, based in Jaipur, India, has acquired the Slovakia based bearings manufacturer, Kinex Bearings.
Now in its 7th edition, this issue of IMAP’s flagship publication Creating Value, takes an in depth look at Africa, where IMAP recently held its bi-annual international conference for the first time since the company’s inception in 1973.